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THE INVESTOR] South Korean stocks ended with gains on Sept. 13, snapping a two-day losing streak, on the back of eased worries about a possible US rate hike and rebound in the shares Samsung Electronics, analysts said. The local currency fell against the US dollar.
The benchmark KOSPI climbed 7.88 points, or 0.4 percent, to 1,999.36. Trade volume came to 432.41 million shares worth 5.07 trillion won (US$4.52 billion), with gainers outnumbering losers 485 to 325.
The KOSPI’s advance came after declining for two consecutive sessions amid widespread expectations that the US Federal Reserve will raise the key interest rate.
Adding to woes, North Korea ramped up regional tensions last week by conducting its fifth nuclear test in defiance of international pressure to stop its nuclear program.
US stocks closed higher Monday, with the Dow Jones industrial average adding 1.32 percent.
“The market will stay alert until the result of the FOMC meeting in September,” said Kim Sung-hwan, a researcher at Bookook Securities, adding that local market will be largely affected by various factors.
Large caps closed mixed, with market bellwether Samsung Electronics adding 4.23 percent to 1,527,000 won following big losses in the previous session.
Leading automaker Hyundai Motor stayed flat to 138,500 won. The state-run Korea Electric Power Corp. shed 1.70 percent to 57,900 won.
The local currency closed at 1,118.80 won against the US dollar, down 5.30 won from the previous session.
(
theinvestor@heraldcorp.com)
