Kospi ends up on blue chip buys

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Kospi ends up on blue chip buys

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,681.81 points on Tuesday, up 0.83 percent, or 21.97 points, from the previous trading session. [YONHAP]

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,681.81 points on Tuesday, up 0.83 percent, or 21.97 points, from the previous trading session. [YONHAP]

 
Stocks ended higher Tuesday as investors scooped up tech, battery and other blue chip stocks. The local currency fell against the U.S. dollar.
 
The Kospi rose 21.97 points, or 0.83 percent, to 2,681.81.
 
Trade volume was moderate at 390 million shares worth 9.45 trillion won ($7.3 billion). Losers, however, beat winners 495 to 365.
 
Institutions led the overall gains, buying a net 508 billion won, while foreign and retail investors unloaded shares.
 
Han Ji-young, an analyst at Kiwoom Securities, said the Kospi appears to have gained traction as investors purchased blue chips following losses the previous session.
 
He added that the latest U.S. consumer price data scheduled to be announced later in the day will be a key factor in determining the direction of the market this week.
 
Tech shares led the overall market advance, with Samsung Electronics rising 1.24 percent to 73,300 won and LG Electronics gaining 2.41 percent to close at 97,800 won.
 
Battery-related shares performed stronger, with LG Energy Solution climbing 4.74 percent to 419,000 won and Samsung SDI surging 11.12 percent to 459,000 won. Posco Future M added 5.99 percent to 336,000 won.
 
Energy and chemical shares went up, with SK Innovation jumping 1.94 percent to 120,900 won and LG Chem soaring 3.33 percent to 450,500 won.
 
For steelmakers, Posco Holdings rose 2.97 percent to 450,000 won.
 
For pharmaceutical shares, Samsung Biologics gained 1.20 percent to 840,000 won while Celltrion moved up 1.23 percent to 181,700 won.
 
KB Financial Group jumped 3.54 percent to 73,200 won and Woori Financial Group gained 0.14 percent to 14,270 won.
 
Hyundai Motor lost 0.82 percent to end at 241,500 won, and Kia decreased 0.08 percent to 126,100 won.
 
The local currency ended at 1,311 won against the greenback, up 0.70 won from the previous session's close.
 
The Kosdaq gained 13.78 points, or 1.57 percent, to close at 889.71.
 
Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds lost 0.2 basis points to 3.273 percent, and the return on the benchmark 10-year government bonds gained 2.2 basis points to 4.098 percent.

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