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THE INVESTOR] South Korean stocks edged up on July 18 as Samsung Electronics and other tech stocks continued to advance, offsetting a decline in automakers and other market heavyweights. The Korean won fell against the US dollar.
The benchmark Korea Composite Stock Price Index rose 3.85 points, or 0.19 percent, to close at 2,021.11. Trade volume was moderate at 376 million shares worth 3.49 trillion won (US$3.07 billion), with gainers outnumbering losers 443 to 355.
The local stock market opened lower on profit-taking. Last week, the KOSPI surged 2.76 percent on the back of foreigners’ buying binge and Samsung Electronics’ continued rise.
Foreign investors scooped up a net 218 billion won worth of local stocks, extending their buying binge to an eighth consecutive session.
Samsung Electronics rose 0.99 percent to end at 1,533,000 won, and AmorePacific, the No. 1 cosmetics maker, fell 0.24 percent to 423,000 won. SK Hynix edged up 0.15 percent to 32,750 won.
Naver, the operator of the country’s top Internet portal, shed 0.56 percent at 712,000 won.
Automakers traded in negative terrain, with industry leader Hyundai Motor down 0.75 percent to 132,000 won, and its smaller affiliate Kia Motors dipping 1.31 percent at 41,350 won.
The local currency closed at 1,136.40 won against the US dollar, down 2.5 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
