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Seoul stocks up late Thu. morning ahead of corporate earnings season

All News 11:47 January 26, 2023

SEOUL, Jan. 26 (Yonhap) -- Seoul stocks extended gains late Thursday morning as foreign investors snapped up shares ahead of the fourth quarter earnings season.

The benchmark Korea Composite Stock Price Index (KOSPI) added 13.23 points, or 0.54 percent, to 2,441.8 as of 11:20 a.m.

Investors still remained cautious of the latest macroeconomic data.

South Korea's economy grew at a pace of 2.6 percent last year due to weak exports and corporate investment.

Market top-caps were trading mixed.

No. 1 chipmaker Samsung Electronics inched up 0.63 percent, while smaller rival SK hynix slid 0.33 percent.

Auto shares gathered ground following better-than-expected fourth quarter results from Tesla Inc. Top automaker Hyundai Motor advanced 1.69 percent and sister affiliate Kia added 2 percent.

The local currency was changing hands at 1,232 won against the greenback as of 11:20 a.m., down 0.3 won from the previous session's close.


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