Kospi climbs 1.12% with hopes of good news with U.S.’ CPI
Published: 13 Feb. 2024, 17:49
-
- LEE SOO-JUNG
- [email protected]
![Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2649.64 points on Tuesday, up 1.12 percent, or 29.32 points, from the previous trading session. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/02/13/7b109cfd-c26c-4f46-b6c9-9e748a3eba24.jpg)
Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2649.64 points on Tuesday, up 1.12 percent, or 29.32 points, from the previous trading session. [NEWS1]
The Kospi added 29.32 points, or 1.12 percent, to close at 2,649.64.
Trade volume was moderate at 550.46 million shares worth 12.93 trillion won ($9.7 billion), with gainers outnumbering losers 597 to 285.
January's U.S. consumer price index due on Tuesday is expected to support the view that decelerating inflation will allow the Fed to start cutting rates this year, analysts said.
Institutions and foreigners bought a combined 1.44 trillion won worth of stocks, offsetting individuals' stock selling, valued at 1.4 billion won.
Foreigners have been the main buyers for eight consecutive trading days since Jan. 31.
Large-cap stocks were mixed across the board.
Samsung Electronics increased 1.5 percent to 75,200 won, SK hynix Inc. jumped 5 percent to 150,000 won. Kia Corp. gained 3.5 percent to 117,200 won and Asiana Airlines soared 5.6 percent to 14,270 won.
With shares in the AI and semiconductor industries becoming the main gainers in the U.S. stock markets, major electric and electronic shares gained traction in the Korean market as well.
Among decliners, Hyundai Motor fell 0.4 percent to 249,000 won and POSCO Holdings declined 3.3 percent to 438,000 won. LG Energy Solution shed 0.1 percent to 393,500 won.
By sector, shares from electric and gas, pharmaceutical, machinery, electronics and telecommunication and manufacturing were the main gainers. Steel, insurance, storage and logistics and retail shares were in negative terrain.
The Kosdaq gained 18.57 points to close at 845.15.
Foreigners bought 259.5 billion won while institutions and retail investors sold 171 billion won and 81.8 billion won, respectively.
On the Kosdaq market, shares of chemical, semiconductor and telecommunication equipment showed the best performances while broadcasting services, finance and textile shares fell.
The local currency closed at 1,328.10 won against the greenback, down 0.1 won from the end of the previous session.
Bond prices, which move inversely to yields, closed lower. The yield on three-year government bonds rose 5.1 basis points to 3.356 percent, and the return on the U.S.' benchmark 10-year government bonds rose 1.8 basis points to 4.184 percent.
BY LEE SOO-JUNG, YONHAP [[email protected]]
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)