Stocks rise to new record ahead of earning reports

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Stocks rise to new record ahead of earning reports

A digital signboard at the Korea Exchange in Yeouido, western Seoul, shows the Kospi closing at an all-time high of 3,208.99, up 68.36 points, or 2.18 percent, from the previous trading day on Monday. [NEWS1]

A digital signboard at the Korea Exchange in Yeouido, western Seoul, shows the Kospi closing at an all-time high of 3,208.99, up 68.36 points, or 2.18 percent, from the previous trading day on Monday. [NEWS1]

 
Stocks surpassed the 3,200-point threshold to finish at an all-time high Monday, with a flurry of big-name firms set to report their fourth-quarter earnings. The won rose against the dollar.
 
The benchmark Kospi jumped 68.36 points, or 2.18 percent, to close at 3,208.99 points. The index hit an intraday high of 3,212.22 points.
 
Trading volume was high at about one billion shares worth some 20.8 trillion won ($18.9 billion), with gainers outnumbering losers 604 to 256.
 
Foreigners bought a net 209 billion won, while retail investors sold a net 566 billion won. Institutions purchased a net 360 billion won.
 
Stocks traded strong during the entire session as investors pin high hopes on fast economic recovery and sound corporate earnings.
 
"Institutions raked in local shares related to semiconductor and food and beverage," said Kiwoom Securities analyst Seo Sang-young.
 
The Kospi's top caps, including Samsung Electronics, SK hynix and LG Chem, are scheduled to report their quarterly earnings for the October-December period.
 
Samsung Electronics added 3 percent to 89,400 won, and chipmaker SK hynix spiked 5.06 percent to 135,000 won.
 
Pharmaceutical firm Samsung Biologics lost 0.5 percent to 790,000 won, but Celltrion hiked 3.55 percent to 321,000 won.
 
Internet portal giant Naver added 1.6 percent to 349,000 won, with its rival Kakao advancing 2.27 percent to 473,500 won.
 
Chemical maker LG Chem rose 1.54 percent to 990,000 won, while rechargeable battery maker Samsung SDI declined 0.25 percent to 790,000 won.
 
Hyundai Motor, the country's largest automaker, moved up 1.17 percent to 260,000 won and Kia rose 6.26 percent to 93,300 won. Auto parts maker Hyundai Mobis lost 0.71 percent to 347,500 won.
 
LG Household & Healthcare surged 7.3 percent to 1,676,000 won.
 
The Kosdaq also rose 19.32 points, or 1.97 percent, to close at 999.30.  
 
The local currency closed at 1,100.7 won per dollar, down 2.5 won from the previous session's close.
 
Bond prices, which move inversely to yields, closed mixed. The return on the three-year bond added 1.3 basis points to close at 1.006 percent, and the return on the 10-year bond lost 2.7 basis points to close at 1.08 percent.  
 
BY CHEA SARAH, YONHAP   [chea.sarah@joongang.co.kr]
 
 
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