South Korean stocks closed marginally higher Monday on advances in the bio and tech industries. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index gained 7.58 points, or 0.39 percent, to 1,955.25. Trade volume totaled 393.8 million shares worth 4.01 trillion won ($3.3 billion), with gainers outnumbering losers 403 to 392.
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(Yonhap) |
Individuals sold a net 67.8 billion won worth of stocks, while foreigners and institutional investors scooped up shares valued at 40.7 billion won.
The KOSPI opened higher following the overnight uptrend on Wall Street, but its upswing was limited due to lingering global uncertainties.
Analysts here said the KOSPI will likely remain in a tight range for the time being.
"The domestic stock market is expected to suffer adjustments until such uncertainties as the Fed's possible rate hike in June and the likelihood of a Brexit are removed," said Kim Byeong-yon, an analyst at NH Investment & Securities Co.
Top market cap Samsung Electronics rose 1.34 percent to 1,286,000 won, and industry front-runner Hyundai Motor also gained 0.75 percent to 133,000 won.
The state-run Korea Electric Power Corp. shed 0.33 percent to 59,900 won.
Leading steelmaker POSCO was up 2.22 percent to 207,500 won.
Hanmi Pharm soared 8.6 percent to 619,000 won, and SK hynix, a major chipmaker, also added 3.42 percent to 27,200 won.
South Korea's won closed at 1,182.95 won against the greenback, up 7.25 won from the previous session.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasury lost 0.4 basis point to 1.467 percent, and the return on the benchmark five-year government bond slipped 0.2 basis point to 1.564 percent. (Yonhap)
