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Seoul stocks end higher on tech, financial gains

All News 15:58 January 05, 2018

SEOUL, Jan. 5 (Yonhap) -- South Korean stocks finished higher Friday as market heavyweights such as Samsung Electronics, as well as financial shares, advanced, analysts said. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 31.06 points, or 1.26 percent, to close at 2,497.52. Trade volume was moderate at 305 million shares worth 6.2 trillion won (US$5.8 billion), with gainers outnumbering losers 493 to 297.

The local bourse opened higher, taking a cue from overnight gains on Wall Street. The Dow Jones industrial average climbed above 25,000 points for the first time.

"U.S. semiconductor shares continued to advance on the back of expectations over strong earnings, a positive factor for the Seoul bourse as well," said Seo Sang-young, an analyst at Kiwoom Securities.

Institutional investors and foreigners bought a net 101 billion won and 246 billion won worth of local stocks, respectively, while individuals offloaded 371 billion won.

Samsung Electronics, the top cap here, jumped 2.04 percent to end at 2,606,000 won. SK hynix, a major chipmaker, was up 2.85 percent to 79,300 won.

KB Financial increased 1.75 percent to 64,100 won, and Samsung Life Insurance moved up 0.83 percent to 121,500 won.

Hyundai Motor, No. 1 carmaker, advanced 1.71 percent to end at 149,000 won, and its smaller affiliate Kia Motors gained 1.27 percent to 31,950 won. Hyundai Mobis, the largest auto-parts maker, remained unchanged at 246,500 won.

LG Chem, the county's leading chemical firm, rose 2.4 percent to 405,000 won, and steelmaker POSCO edged up 0.14 percent to 368,000 won.

The local currency closed at 1,062.70 won against the U.S. dollar, down 0.5 won from the previous session's close.


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