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South Korean stocks ended slightly higher Tuesday after trading flat earlier as investors were mixed over the impact of the free trade agreement to be signed by Seoul and Beijing, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index added 4.77 points, or 0.24 percent, to 1,963.00. Trading volume was moderate at 293.74 million shares worth 4.38 trillion won ($4.04 billion), with gainers outnumbering losers, 508 to 307.
Analysts said Seoul shares traded mixed as investors took a wait-and-see approach on the impact of the FTA, which is expected to help boost the countries’ annual bilateral trade.
“The South Korea-China Free Trade Agreement is a long-term issue for the local stock market. It cannot give a significant impact to the overall trend,” said Kang Hyung-gie, an analyst at I’M Investment & Securities Co.
China is already South Korea‘s largest trading partner, accounting for 26 percent of Seoul’s overall exports in 2013. The two declared a de facto conclusion of their FTA negotiations Monday.
Foreigners bought a net 106.3 billion won, while retail investors sold a net 129.4 billion won. Institutions sold more shares than they bought at 40.4 billion won.
Carmakers traded mixed, with Hyundai Motor adding 5.71 percent to 176,000 won while its auto parts arm, Hyundai Mobis, shed 1.26 percent to 235,000 won. Kia Motors gained 2.02 percent to 55,600 won.
Shipbuilders traded lower, with Hyundai Heavy Industries falling 0.47 percent to 106,500 won and Daewoo Shipbuilding & Marine Engineering moving down 1.22 percent to 20,300 won.
Samsung Electronics fell 2.92 percent to 1,231,000 won, while No. 2 chipmaker SK hynix added 0.11 percent to 47,600 won. LG Electronics gained 0.77 percent to 65,300 won.
Mobile carriers closed higher, with SK Telecom rising 1.28 percent to 278,000 won and KT advancing 0.94 percent to 32,100 won.
LG Uplus climbed 1.85 percent to 11,000 won.
Top steelmaker POSCO plunged 3.24 percent to 299,000 won, and Samsung Life Insurance shed 1.23 percent to 120,000 won. Top portal operator Naver, on the other hand, added 0.13 percent to 742,000 won.
The local currency ended at 1,091.60 won against the greenback, down 6.60 won from the previous session’s close. (Yonhap)
The benchmark Korea Composite Stock Price Index added 4.77 points, or 0.24 percent, to 1,963.00. Trading volume was moderate at 293.74 million shares worth 4.38 trillion won ($4.04 billion), with gainers outnumbering losers, 508 to 307.
Analysts said Seoul shares traded mixed as investors took a wait-and-see approach on the impact of the FTA, which is expected to help boost the countries’ annual bilateral trade.
“The South Korea-China Free Trade Agreement is a long-term issue for the local stock market. It cannot give a significant impact to the overall trend,” said Kang Hyung-gie, an analyst at I’M Investment & Securities Co.
China is already South Korea‘s largest trading partner, accounting for 26 percent of Seoul’s overall exports in 2013. The two declared a de facto conclusion of their FTA negotiations Monday.
Foreigners bought a net 106.3 billion won, while retail investors sold a net 129.4 billion won. Institutions sold more shares than they bought at 40.4 billion won.
Carmakers traded mixed, with Hyundai Motor adding 5.71 percent to 176,000 won while its auto parts arm, Hyundai Mobis, shed 1.26 percent to 235,000 won. Kia Motors gained 2.02 percent to 55,600 won.
Shipbuilders traded lower, with Hyundai Heavy Industries falling 0.47 percent to 106,500 won and Daewoo Shipbuilding & Marine Engineering moving down 1.22 percent to 20,300 won.
Samsung Electronics fell 2.92 percent to 1,231,000 won, while No. 2 chipmaker SK hynix added 0.11 percent to 47,600 won. LG Electronics gained 0.77 percent to 65,300 won.
Mobile carriers closed higher, with SK Telecom rising 1.28 percent to 278,000 won and KT advancing 0.94 percent to 32,100 won.
LG Uplus climbed 1.85 percent to 11,000 won.
Top steelmaker POSCO plunged 3.24 percent to 299,000 won, and Samsung Life Insurance shed 1.23 percent to 120,000 won. Top portal operator Naver, on the other hand, added 0.13 percent to 742,000 won.
The local currency ended at 1,091.60 won against the greenback, down 6.60 won from the previous session’s close. (Yonhap)
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