SEOUL, Aug. 13 (Yonhap) -- South Korean stocks rallied 1.5 percent on Tuesday on brighter outlook over the eurozone economy, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 28.2 points to finish at 1,913.03. Trading volume was moderate at 358.1 million shares worth 4 trillion won (US$3.59 billion) with gainers outpacing losers 406 to 377.
"Seoul shares gathered ground as the eurozone economy is expected to post a growth on the back of Germany's robust performances," said Kim Sun-young, a researcher at IBK Investment & Securities Co.
The eurozone economy has posted a minus growth for the sixth quarter at end-March.
Analysts added that Japan's favorable economic growth for the second quarter, which edged up 2.6 percent on-year, also boasted investor sentiment here.
"The local stock market also gathered ground as technology companies and steelmakers recouped losses made in the recent trading sessions," said Lim Soo-kyun, a researcher at Samsung Securities Co.
Foreigners bought more shares than they sold at net 153.2 billion won, and institutions also scooped up a net 154.5 billion won. In contrast, individuals offloaded a net 313.3 billion won.
Tech shares closed bullish, with No. 1 player Samsung Electronics rising 4.71 percent to 1,290,000 won and its rival LG Electronics adding 0.8 percent to 75,800 won. Top chipmaker SK hynix gained 4.81 percent to 28,300 won.
Leading steelmaker POSCO climbed 1.21 percent to 334,000 won, and Korea Zinc moved up 3.75 percent to 304,500 won.
Carmakers also joined the market gain, with leading Hyundai Motor rising 2.71 percent to 227,000 won and its smaller affiliate Kia Motors adding 1.98 percent to 71,700 won. Auto parts maker Hyundai Mobis gained 0.75 percent to 267,000 won.
In contrast, food companies closed bearish, with CJ CheilJedang falling 1.14 percent to 260,500 won, and Lotte Chilsung moving down 0.77 percent to 1,409,000 won.
Mobile carriers also closed lower, with leading SK Telecom falling 0.95 percent to 208,500 won and No. 2 player KT decreasing 1.81 percent to 35,300 won. LG Uplus, the smallest player, shed 0.75 percent to 13,300 won.
The local currency ended at 1,115.30 won against the greenback, down 1.60 won from Monday's close, on rising demand for the U.S dollar in the global market, dealers said.
