Kospi gains as investors await key U.S. data

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Kospi gains as investors await key U.S. data

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,652.29 points on Wednesday, up 1.04 percent, or 27.24 points, from the previous trading session. [YONHAP]

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,652.29 points on Wednesday, up 1.04 percent, or 27.24 points, from the previous trading session. [YONHAP]

Stocks ended higher Wednesday as investors keenly await key data from the United States later this week. The local currency fell against the U.S. dollar.
 
The Kospi added 27.24 points, or 1.04 percent, to 2,652.29.
 
Trade volume was moderate at 409.7 million shares worth 10 trillion won ($7.4 billion), with gainers outpacing losers 559 to 302.
 
Individuals were net sellers by offloading 539.2 billion won, while foreigners scooped up a net 458 billion won. Institutions bought a net 42.9 billion won.
 
The U.S.' personal consumption expenditures price index is set to be released Thursday (U.S. time), along with fourth-quarter gross domestic product growth Wednesday.
 
"It is significant that the Kospi is steadily building up its bottom line to approach the 2,700 level," said Han Ji-young, an analyst from Kiwoom Securities.
 
Major shares closed bullish across the bourse, with tech, auto and battery stocks leading the overall market advance.
 
Samsung Electronics added 0.41 percent to 73,200 won, and SK hynix rose 2.73 percent to 158,000 won.
 
For bio shares, Samsung Biologics decreased 0.74 percent to 801,000 won and Celltrion retreated 0.05 percent to 190,000 won.
 
Hana Financial Group gained 1.65 percent to 55,600 won, while KB Financial Group lost 0.16 percent to 62,300 won.
 
Hanwha Life Insurance jumped 2.31 percent to 3,100 won, and Hyundai Fire & Marine Insurance gained 1.62 percent to 31,450 won.
 
Battery makers traded mixed, with LG Energy Solution decreasing 0.74 percent to 400,500 won, while Samsung SDI increased 0.13 percent to 381,500 won.
 
Hyundai Motors gained 3.98 percent to 248,000 won, and Kia Motor added 4.53 percent to 117,700 won. Hyundai Mobis climbed 3.64 percent.
 
Korea Gas, which released a weak earnings report the previous day, fell 4.72 percent to 28,250 won.
 
The local currency ended at 1,333.6 won against the greenback, up 2.6 won from the previous session's close.
 
The Kosdaq gained 9.64 points, or 1.13 percent, to close at 863.39.
 
Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds fell 0.6 basis points to 3.358 percent, and the return on the benchmark 10-year government bonds gained 1.9 basis points to 4.299 percent.
 

BY KIM JI-YE, YONHAP [[email protected]]
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