South Korean stocks closed at a fresh all-time high Monday, helped by gains in techs such as Samsung Electronics, analysts said. The Korean won gained against the US dollar.
The benchmark Korea Composite Stock Price Index climbed 5.3 points, or 0.21 percent, to 2,501.93. Trade volume was moderate at 338 million shares worth 6.9 trillion won ($6.15 billion), with losers outnumbering gainers at 419 to 373.
It marked the first time the main bourse has closed above the 2,500-point mark.
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(Yonhap) |
Analysts said the achievement came as investors' sentiment was boosted by strong gains from US technology companies.
"The US gains seen last Friday -- improved earnings and economic indicators -- had a positive impact on the South Korean market" said Seo Sang-young, a researcher at Kiwoom Securities Co.
Foreigners scooped up a net 253 billion won, while institutions sold more shares than they bought at 522 billion won. Individuals bought a net 260 billion won.
Market behemoth Samsung Electronics added 1.81 percent to close at 2,702,000 won. No. 2 chipmaker SK hynix increased 1.79 percent to 79,800 won, and Samsung SDI advanced 3.85 percent to 202,500 won.
Lotte Corporation, the holding firm of the retail gaint Lotte Group, shot up 10 percent to 70,400 won on its first day of trading after being listed on the main bourse.
Top carmaker Hyundai Motor lost 1.58 percent to 156,000 won while its sister Kia Motors moved up 0.44 percent to 34,550 won. Hyundai Mobis shed 0.59 percent, closing at 254,000 won.
Leading mobile carrier SK Telecom decreased 1.34 percent at 257,500 won and KT lost 1.02 percent at 29,250 won. LG Uplus remained unchanged at 12,950 won.
The local currency closed at 1,124.60 won against the US dollar, up 5.9 won from the previous session's close.
Bond prices, which move inversely to yields, ended higher. The yield on three-year Treasurys shed 2.7 basis points at 2.137 percent, and the return on the benchmark five-year government bonds lost 2.1 basis points to close at 2.390 percent. (Yonhap)
