Shares rise after widely predicted rates freeze

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Shares rise after widely predicted rates freeze

  • 기자 사진
  • KIM JU-YEON
Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Thursday. [YONHAP]

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Thursday. [YONHAP]

 
Shares finished higher Thursday led by net purchases by institutions and foreign investors. The local currency lost ground against the dollar.
 
The benchmark Kospi added 15.48 points, or 0.61 percent, to close at 2,535.29.
 
The Kosdaq rose 9.24 points, or 1.12 percent, to close at 831.68.  
 
Trading volume was heavy at 645.4 million shares worth 11.5 trillion won ($8.9 billion), with gainers outpacing decliners 563 to 319.
 
Institutions scooped up a net 263.1 billion won worth of local shares, and foreign investors bought a net 122.3 billion won. Individuals dumped a net 369.3 billion won.
 
Experts said the Bank of Korea's (BOK) decision on Thursday to freeze the key interest rate and cut its growth outlook for next year had limited impact on the local financial market, as those moves were widely expected.
 
"Many investors have anticipated the Bank of Korea's rate freeze and growth forecast downgrade in accordance with the latest moves by international organizations like the IMF and World Bank," said Lee Jae-sun, an analyst from Hyundai Motor Securities.
 
Market heavyweights finished in positive territory, with Samsung Electronics adding 0.14 percent to 72,800 won and LG Energy Solution rising 1.68 percent to 454,500 won.
 
SK hynix jumped 2.68 percent to 133,900 won, and SK Innovation gained 0.56 percent to 143,100 won.
 
Hotel Shilla increased 1.55 percent to 65,600 won and Celltrion went up 0.74 percent to 162,900 won.
 
Hybe edged up 0.23 percent to 215,500 won despite the announcement that four members of BTS will join the military next month.
 
Among decliners were automakers, with Hyundai Motor dropping 0.27 percent to 184,300 won and Kia dropping 0.12 percent to 85,900 won.
 
The local currency ended at 1,290 won against the dollar, up 0.4 won from the previous session's close.
 
Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds added 3.2 points to 3.59 percent, and the return on the benchmark U.S. 10-year government bonds fell 6.0 points to reach 4.26 percent.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]
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