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Seoul stocks inch up on tech gains

All News 16:05 December 08, 2017

SEOUL, Dec. 8 (Yonhap) -- South Korean stocks rose slightly Friday as Samsung Electronics and other tech stocks continued to advance. The Korean won gained against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.02 points, or 0.08 percent, to close at 2,464.00. Trade volume was moderate at 401 million shares worth 5.32 trillion won (US$4.87 billion).

The KOSPI opened higher, tracking modest gains on Wall Street overnight.

Lee Young-kon, a Hana Financial Investment analyst, said foreign investors continued to remain net sellers of local stocks, but their selling momentum shows signs of slowing.

Samsung Electronics rose 2.48 percent to end at 2,600,000 won, and SK hynix, a global chipmaker, climbed 3.55 percent to 78,700 won.

Naver, the operator of the country's top Internet portal, shed 0.84 percent to 830,000 won.

Automakers traded in negative terrain, with industry leader Hyundai Motor down 1.86 percent to 158,500 won, and its smaller affiliate Kia Motors dipping 0.75 percent to 33,000 won.

The local currency closed at 1,093.30 won against the U.S. dollar, up 0.2 won from the previous session's close.

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