Kospi hits another record on Q2 hopes
The benchmark Kospi closed at 2,429.94, up 3.90 points, or 0.16 percent, from the previous trading day.
Institutional investors bought 140 billion won ($124.7 million) in shares amid expectations that major companies like Samsung Electronics will release solid second-quarter earnings results. Foreign investors, on the other hand, offloaded 111.8 billion won worth and retail investors sold 75.9 billion won in shares.
Most large-cap stocks advanced across the board.
But market bellwether Samsung Electronics fell 0.20 percent to 2,537,000 won, keeping the main index from rising further.
LG Display rose 2.89 percent to 37,350 won, while Samsung SDI lost 5.82 percent to 178,000 won. Steelmaker Posco closed 0.32 percent higher at 317,500 won and internet portal Naver added 0.6 percent to 835,000 won. Tobacco company KT&G added 0.44 percent to 115,000 won.
LG Chem, on the other hand, fell 2.45 percent to 318,500 won and SK Innovation dropped 0.59 percent to 167,500 won. Coway plummeted 4.98 percent to 95,900 won and Lotte Shopping fell 0.7 percent to 285,000 won.
The secondary Kosdaq closed at 671.53, up 7.51 points, or 1.13 percent, from the previous trading day. The tech-heavy market rose for the fifth consecutive day, largely thanks to a buying spree by foreign investors that stretched for six days in a row.
The local currency closed at 1,120.60 won against the U.S. dollar, up 2.50 won from the previous session’s close.
Bond prices, which move inversely to yields, closed lower.
The yield on three-year Treasuries rose 0.1 basis point to 1.747 percent, and the return on the benchmark five-year government bond gained 0.2 basis points to 1.945 percent.
BY KIM YOUNG-NAM, YONHAP [kim.youngnam@joongang.co.kr]
with the Korea JoongAng Daily
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