Stocks end higher on anticipation of slower inflation in the U.S.

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,365.10 points on Thursday, up 5.57 points, or 0.24 percent, from the previous trading day. [YONHAP]

Stocks extended their winning streak to a seventh session on Thursday, largely on anticipation of slower inflation in the United States. The won rose against the dollar.

The Kospi closed up 5.57 points, or 0.24 percent, at 2,365.1 points.

Trading volume was moderate at about 570 million shares worth some 7.7 trillion won ($6.2 billion), with gainers outnumbering losers 494 to 365.

Foreigners bought a net 484 billion won, while institutions sold 437 billion won and retail investors offloaded 49 billion won.

Stocks got off to a solid start, taking a cue from overnight Wall Street gains.

Overnight, the tech-heavy Nasdaq composite added 1.76 percent and the Dow Jones Industrial Average advanced 0.8 percent amid expectations that slower growth in the December consumer price index (CPI), a key gauge for inflation, could prod the U.S. Federal Reserve to go easy on its aggressive policy tightening.

"The U.S. stock advance stemming from optimism on the U.S. CPI had a positive impact on the local stocks. Despite the uncertainties, investors are expecting that inflation is slowing down," Mirae Asset Securities analyst Seo Sang-young said.

Most sectors advanced in Seoul, while chipmakers performed weak.

Samsung Electronics traded unchanged at 60,500 won, and chipmaker SK hynix shed 0.57 percent to 86,800 won.

Car battery maker LG Energy Solution rose 0.74 percent to 478,000 won, and carmaker Hyundai Motor increased 1.52 percent. Refiner SK Innovation advanced 2.28 percent to 157,000 won. Bio heavyweight Samsung Biologics gained 1 percent to 811,000 won.

Samsung SDI rose 0.8 percent to 629,000 won, Celltrion gained 0.9 percent to 168,000 won.

The local currency closed at 1,245.8 won against the dollar, down 0.4 won from the previous session's close.

The Kosdaq climbed 1.05 points, or 0.15 percent, to close at 710.82 points.

Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds fell 1.5 basis points to 3.466 percent, and the yield on the benchmark 10-year government bonds lost 8 basis points to 3.539 percent.

BY LEE JAE-LIM, YONHAP [lee.jaelim@joongang.co.kr]