Kospi continues streak of record setting
The benchmark Kospi closed at 2,355.30, up 12.37 points, or 0.53 percent, from the previous trading day. It also marks the fifth consecutive record for the index, since Korean shares breached the 2,300-point mark for the first time on Monday. During the trading session Friday, the index soared to 2,364.80.
Foreign investors bought 113.8 billion won ($101.65 million) in shares and institutional investors purchased 95.2 billion won worth. Retail investors, on the other hand, offloaded 260.1 billion won in shares.
Analysts attributed the growth to robust performances made by U.S. retailers, which eased concerns over slowed domestic consumption in the world’s top economy.
Tech shares closed mostly higher, with market behemoth Samsung Electronics advancing 0.88 percent to 2,304,000 won. No. 2 chipmaker SK Hynix increased 2.33 percent to 57,100 won. LG Display added 4.16 percent to 30,050 won.
Mobile carriers were also winners, with SK Telecom increasing 2 percent to 254,500 won and KT rising 0.46 percent to 32,450 won. LG U+ shot up 0.32 percent to 15,700 won.
Brokerage houses closed bullish on the robust index, with Samsung Securities rising 0.88 percent to 40,200 won and Kiwoom Securities gaining 3.73 percent to 86,100 won.
Carmakers closed lower, with top player Hyundai Motors falling 0.91 percent to 163,500 won and Kia Motor losing 0.26 percent to 38,850 won. Auto parts maker Hyundai Mobis shed 0.53 percent to 281,500 won.
The secondary Kosdaq closed at 646.01, up 2.99 points, or 0.46 percent, from the previous day. Celltrion remained unchanged at 93,800 won, while Kakao gained 1.12 percent to 99,700 won.
The local currency closed at 1,120.70 won against the greenback, down 4.20 won from Thursday’s close.
BY KIM YOUNG-NAM, YONHAP [kim.youngnam@joongang.co.kr]
with the Korea JoongAng Daily
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