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The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Friday. (Yonhap) |
The South Korean stock market continued its winning streak to a fourth session Friday amid eased concerns over the impact of the omicron variant on the global economy. The local currency gained ground against the US dollar.
The benchmark Korea Composite Stock Price Index (Kospi) rose 14.26 points, or 0.48 percent, to 3,012.43 points.
Trading volume was moderate at about 530 million shares worth some 8.4 trillion won ($7.7 billion), with gainers outnumbering losers 602 to 228.
Foreigners bought a net 189 billion won, and institutions purchased a net 915 billion won, while retail investors offloaded a net 1.12 trillion won.
Investor sentiment was buoyed by optimism that the omicron variant might be highly infectious but less likely to lead to hospitalization, analysts said.
Also bolstering market mood was the latest brisk US economic data, including improved consumer sentiment, increased new home sales and better-than-expected durable goods sales.
"The stock market gained largely thanks to Korean chip advances following the surge of Micron Technology shares, and consumer sentiment improved upon news that the omicron variant is less likely to negatively impact the global economy," Seo Sang-young, an analyst at Mirae Asset Securities Co. said.
Market bellwether Samsung Electronics Co. rose 0.75 percent to 80,500 won, No. 2 chipmaker SK hynix Inc. climbed 0.39 percent to 128,000 won, and top carmaker Hyundai Motor Co. gained 3.11 percent to 215,500 won.
Among losers, leading cosmetics firm AmorePacific Corp. declined 0.85 percent to 175,500 won, and leading chemical firm LG Chem Ltd. shed 2.05 percent to 621,000 won.
The local currency closed at 1,186.60 won against the US dollar, up 1.3 won from the previous session's loss.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys lost 0.7 basis point to 1.798 percent, and the return on the 20-year government bond rose 0.3 basis point to 2.263 percent. (Yonhap)
