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South Korean stocks ended 0.32 percent higher on Wednesday, buoyed by firm gains in major technology companies, analysts said. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index rose 6.39 points to 1,999.73. Trading volume was moderate at 347.4 million shares worth 3.42 trillion won ($2.12 billion), with gainers outnumbering decliners 444 to 350.
“There’s optimism out there on global liquidity and economic data have also been supporting this,” said Woori Investment & Securities Co. analyst Park Sung-hoon.
“While North Korean risks are still weighing on the KOSPI, they are likely to fizzle out unless a military clash occurs,” said Park.
Techs fueled the KOSPI, with market bellwether Samsung Electronics jumping 2.21 percent to 1,527,000 won.
South Korean home electronics giant LG Electronics also rose 1.91 percent to 80,000 won and chip giant SK hynix added 0.71 percent to 28,300 won.
CJ CGV, which operates movie theater chains, surged 6.21 percent to 47,000 won on rosy business outlooks in China.
In contrast, most financial shares ended in negative territory, with top life insurer Samsung Life Insurance falling 1.43 percent to 103,500 won.
Top mobile operator SK Telecom dipped 0.27 percent to 183,000 won after the presidential office hinted on moves to overhaul subsidy policies.
The local currency ended at 1,097.4 won, down 2.2 won from Tuesday’s close, amid bleak U.K. factory production data, dealers said. (Yonhap News)
“There’s optimism out there on global liquidity and economic data have also been supporting this,” said Woori Investment & Securities Co. analyst Park Sung-hoon.
“While North Korean risks are still weighing on the KOSPI, they are likely to fizzle out unless a military clash occurs,” said Park.
Techs fueled the KOSPI, with market bellwether Samsung Electronics jumping 2.21 percent to 1,527,000 won.
South Korean home electronics giant LG Electronics also rose 1.91 percent to 80,000 won and chip giant SK hynix added 0.71 percent to 28,300 won.
CJ CGV, which operates movie theater chains, surged 6.21 percent to 47,000 won on rosy business outlooks in China.
In contrast, most financial shares ended in negative territory, with top life insurer Samsung Life Insurance falling 1.43 percent to 103,500 won.
Top mobile operator SK Telecom dipped 0.27 percent to 183,000 won after the presidential office hinted on moves to overhaul subsidy policies.
The local currency ended at 1,097.4 won, down 2.2 won from Tuesday’s close, amid bleak U.K. factory production data, dealers said. (Yonhap News)
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Articles by Korea Herald
