Shares extend winning streak to third session
Shares extended their winning streak to a third session Thursday amid the geopolitical uncertainties in Ukraine. The won fell against the dollar.
The benchmark Kospi added 10.91 points, or 0.4 percent, to close at 2,757.65 points.
Trading volume was moderate at about 1 billion shares worth some 9.6 trillion won ($7.9 billion), with gainers outnumbering losers 607 to 240.
Institutions bought a net 190 billion won, while foreigners sold 175 billion won and retail investors offloaded 12 billion won.
After a choppy start, stocks gathered ground amid reports Russia offered a ceasefire in the Ukrainian city of Mariupol to let civilians evacuate.
Financials and steelmakers led the overall market advance.
"The Kospi advanced on news about Russia's ceasefire offer in Mariupol. The U.S. Fed's hawkish comment pushed up the bond rates in the U.S., but its impacts were already priced into the local stocks," said Eugene Investment & Securities analyst Huh Jae-hwan.
Samsung Electronics lost 0.43 percent to 69,600 won, while battery maker LG Energy Solution rose 0.34 percent to 442,000 won. Chipmaker SK hynix retreated 2.48 percent to 118,000 won.
Financial firm KB Financial Group increased 2.17 percent to 61,300 won, and internet bank Kakao Bank gained 2.58 percent to 51,600 won.
Naver climbed 0.44 percent to 340,500 won, while carmaker Hyundai Motor lost 0.28 percent to 180,500 won.
Biopharmaceutical company SK bioscience added 0.64 percent to 157,000 won, and Samsung Biologics declined 2.01 percent to 827,000 won.
The local currency closed at 1,212.1 won against the dollar, up 2.5 won from the previous session's close.
The Kosdaq advanced 5.46 points, or 0.58 percent, to close at 944.53 points.
Celltrion Healthcare dipped 1.22 percent to 65,000 won, while battery material supplier EcoPro BM jumped 2.37 percent to 397,700 won. Kakao Games inched down 0.51 percent to 78,300 won.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds gained 5.0 basis points to 2.664 percent, and the yield on the benchmark 10-year government bond decreased 4.6 basis points to 2.35 percent.
BY SHIN HA-NEE, YONHAP [firstname.lastname@example.org]