Kospi rebounds from 2-day losing streak on semiconductors
Published: 26 Mar. 2024, 17:56
- KIM JI-YE
- [email protected]
Stocks rose on Tuesday to end a two-session losing streak buoyed by strong semiconductor shares, while the local currency gained against the U.S. dollar.
The Kospi added 19.52 points, or 0.71 percent, to close at 2,757.09.
Trade volume was moderate at 439.5 million shares worth 11.9 trillion won ($8.88 billion), with gainers closely beating decliners 452 to 404.
Foreign and institutional net purchases worth a combined 1.15 trillion won led the daily increase, offsetting a net 1.05 trillion won sold by individuals.
Analysts said local semiconductor shares were the biggest winners on an overnight rally by U.S. chipmakers Nvidia and Micron.
Samsung Electronics jumped 2.17 percent to 79,900 won and SK hynix vaulted 4.25 percent to 176,600 won. Hanmi Semiconductor skyrocketed 15.5 percent to 112,500 won.
Hyundai Motor went up 0.42 percent to 240,500 won and Kia rose 2.6 percent to 114,400 won.
Hyundai Mobis moved up 2.52 percent to 264,500 won, while Hybe rose 1.21 percent to 209,500 won.
Retailers were also among the winners, with Lotte Shopping advancing 1.23 percent to 73,800 won and Shinsegae rising 0.49 percent to 164,800 won.
Hanwha Aerospace shot up 6.14 percent to 216,000 won and LIG Nex1 gained 4.6 percent to 177,300 won.
Battery makers, however, closed in negative territory as LG Energy Solution fell 2.05 percent to 406,000 won and Samsung SDI dropped 2.67 percent to 473,000 won.
Pharmaceutical firms fell to negative territory, with Samsung Biologics losing 1.43 percent to 828,000 won and Celltrion falling 1.32 percent to 186,400 won.
Chemical companies closed lower as LG Chem lost 2.50 percent to 449,000 won and SK Innovation dropped 0.33 percent to 120,600 won.
Samsung Fire and Marine Insurance dropped 5.69 percent to 315,000 won, while Hyundai Marine and Fire Insurance fell 0.76 percent to 32,850 won.
The local currency closed at 1,339.5 won against the greenback, down 2.6 won from the previous session's close.
The Kosdaq gained 2.40 points, or 0.26 percent, to close at 916.09.
Bond prices, which move inversely to yields, closed lower. The yield on three-year government bonds rose 1.2 basis points to 3.301 percent and the return on the benchmark U.S. 10-year government bonds gained 4.4 basis points to 4.242 percent.
BY KIM JI-YE, YONHAP [[email protected]]
with the Korea JoongAng Daily
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