Technology stocks boost Seoul’s bourse
The benchmark Kospi rose 7.28 points or 0.34 percent to hit 2,167.51 on Monday. Institutional investors net bought 31.3 billion won ($27.9 million) in shares while retail investors offloaded 59.2 billion won and foreign investors sold 22 billion won worth.
“Improved first-quarter earnings estimates in information technology companies, such as Samsung Electronics and SK Hynix, had a positive impact on the index,” said Bae Sung-young, an analyst at KB Securities.
Market bellwether Samsung Electronics gained 0.58 percent to 2,072,000 won, and No. 2 chipmaker SK Hynix was up 2.57 percent to 51,800 won.
Among other large caps, portal provider Naver rose 2.11 percent. LG Electronics rebounded 1.18 percent for the first time in six trading days while Samsung Biologics also gained, with a 1.73 percent increase.
Hyundai Motor fell 0.64 percent to 156,500 won, and steelmaker Posco was down 2.92 percent to 282,500 won. Auto parts maker Hyundai Mobis and electric car battery maker LG Chem also fell.
The secondary Kosdaq closed at 628.52, up 9.24 points or 1.49 percent from the previous trading day, its fifth straight advance.
While most industries gained, the Internet sector jumped 4.1 percent while textiles grew 2.8 percent. Foreign and institutional investors bought 63.4 billion won and 52.2 billion won worth shares respectively, while retail investors offloaded 112.8 billion won.
The Korean won rose against the U.S. dollar. The local currency closed at 1,115.30 won against the U.S. dollar, up 3.10 won from the previous session’s close.
Bond prices, which move inversely to yields, were mixed. The yield on three-year treasury rose 0.9 basis points to 1.671 percent and the return on the benchmark five-year government bond fell 0.7 basis points to 1.84 percent.
BY KIM JEE-HEE, YONHAP [kim.jeehee@joongang.co.kr]
with the Korea JoongAng Daily
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