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(LEAD) Seoul stocks end higher on tech gains

2018/09/14 16:29

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(ATTN: ADDS bond yields at bottom; CHANGES image)

SEOUL, Sept. 14 (Yonhap) -- South Korean stocks closed higher Friday led by gains in top cap Samsung Electronics and other tech shares, analysts said. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 32.02 points, or 1.4 percent, to 2,318.25. Trade volume was slim at 274.7 million shares worth 5.4 trillion won (US$4.8 billion), with winners outnumbering losers 511 to 313.

The local bourse opened higher following overnight gains on Wall Street, and remained in positive terrain through late in the afternoon on institutional and foreign buying.

"While concerns over the trade dispute between the United States and China remain, tensions have eased compared to when the conflict escalated," said Seo Sang-young, an analyst at Kiwoom Securities.

Institutions and foreigners bought a net 263 billion won and 192 billion won of local stocks, respectively, while individuals dumped a net 483.9 billion won worth of shares.

Market kingpin Samsung Electronics rose a solid 4.09 percent to close at 45,850 won, and SK hynix, a global chipmaker, was up 4.3 percent to 77,700 won.

Samsung Electro-Mechanics, Samsung's electronic parts maker, soared 4.83 percent to end at 152,000 won, and the conglomerate's battery making unit Samsung SDI rose 2.73 percent to 25,000 won.

Cosmetics shares were also bullish, with AmorePacific surging 3.67 percent to 268,500 won. Its rival LG Household & Healthcare soared 5.16 percent to 1,243,000 won.

No. 1 carmaker Hyundai Motor edged up 0.78 percent to 129,500 won, and its auto parts arm Hyundai Mobis rose 2.49 percent to 226,500 won.

Hyundai's smaller affiliate Kia Motors, meanwhile, fell 0.29 percent to close at 34,050 won.

Top steelmaker POSCO gained 0.34 percent to 294,000 won, and Naver, the country's largest portal operator, moved up 0.97 percent to 730,000 won.

Pharmaceutical giant Celltrion fell 0.85 percent to 291,000 won.

The local currency closed at 1,116.60 won against the U.S. dollar, up 5.8 won from the previous session's close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys gained 3.9 basis points to 1.960 percent, and the return on benchmark five-year government bonds increased 4.1 basis points to 2.124 percent.

An electronic sign at KEB Hana Bank in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) surging 32.02 points, or 1.4 percent, to close at 2,318.25 on Sept. 14, 2018. (Yonhap) An electronic sign at KEB Hana Bank in Seoul shows the benchmark Korea Composite Stock Price Index (KOSPI) surging 32.02 points, or 1.4 percent, to close at 2,318.25 on Sept. 14, 2018. (Yonhap)

scaaet@yna.co.kr

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