Stocks rise after good export report and despite DRAM decline

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Stocks rise after good export report and despite DRAM decline

A screen at Hana Bank's trading room in central Seoul shows the Kospi closing at 2,978.94 points on Monday, up 8.26 points, or 0.28 percent, from the previous trading day. [NEWS1]

A screen at Hana Bank's trading room in central Seoul shows the Kospi closing at 2,978.94 points on Monday, up 8.26 points, or 0.28 percent, from the previous trading day. [NEWS1]

 
Stocks advanced Monday after a three-day losing streak as strong exports in October were reported. The won fell against the dollar.
 
The benchmark Kospi rose 8.26 points, or 0.28 percent, to close at 2,978.94 points.
 
Trading volume was moderate at about 469 million shares worth some 9.3 trillion won ($7.9 billion), with losers outnumbering gainers 496 to 358.
 
Foreigners sold a net 355 billion won, while institutions bought 637 billion won. Retail investors offloaded a net 271 billion won.
 
The key stock index's gain was led by bio and tech advances.
 
Korea's exports in October jumped 24 percent on-year to the second-largest monthly figure, helped by brisk global demand for chips and petrochemical products.
 
"Investors seem to have scooped up chip stocks despite a fall in DRAM prices, largely following Samsung Electronics and SK hynix's emphasis on their shift to more profit-centered management strategies," said Mirae Asset Securities analyst Park Gwang-nam.
 
Samsung Electronics added 0.14 percent to 69,900 won, and chipmaker SK hynix jumped 3.4 percent to 106,500 won.
 
Internet portal operator Naver increased 0.37 percent to 408,500 won, and Kakao remained unchanged at 125,500 won. Kakao Bank increased 1.27 percent to 63,900 won. 
 
Pharmaceutical firm Samsung Biologics gained 0.34 percent to 874,000 won, and Celltrion rose 2.49 percent to 205,500 won. 
 
Automaker Hyundai Motor closed unchanged at 208,000 won, and its sister company Kia dropped 0.94 percent to 84,300 won. 
 
LG Chem retreated 0.48 percent to 832,000 won, and rechargeable battery maker Samsung SDI fell 1.5 percent to 732,000 won. 
 
Online game publisher NCSoft jumped 3.35 percent to 648,000 won, and Netmarble gained 2.83 percent to 127,000 won. 
 
The Kosdaq gained 6.24 points, or 0.63 percent, to close at 998.57.
 
The local currency closed at 1,176.5 won against the dollar, up 7.9 won from the previous session's close.
 
Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds lost 0.4 basis point to 2.098 percent, while the yield on the benchmark 10-year government bond fell 1.6 basis points to 1.55 percent.
 

BY LEE TAE-HEE, YONHAP [lee.taehee2@joongang.co.kr]
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