SEOUL, South Korean stocks ended higher Tuesday to hit the highest in 19 months as investors scooped up tech, battery and other blue chips. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 21.97 points, or 0.83 percent, to 2,681.81, marking the highest closing since May 31, 2022, when the comparable figure was 2,685.90.
Trade volume was moderate at 390 million shares worth 9.45 trillion won (US$7.3 billion). Losers, however, beat winners 495 to 365.
Institutions led the overall gains, buying a net 508 billion won, while foreign and retail investors unloaded shares.
Han Ji-young, an analyst at Kiwoom Securities, said the KOSPI appears to have gained traction as investors purchased blue chips following losses the previous session.
He added that the latest U.S. consumer price data scheduled to be announced later in the day will be a key factor in determining the direction of the market this week.
Tech shares led the overall market advance, with
Samsung Electronics rising 1.24 percent to 73,300 won and LG Electronics gaining 2.41 percent to close at 97,800 won.
Battery-related shares performed stronger, with LG Energy Solution climbing 4.74 percent to 419,000 won and Samsung SDI surging 11.12 percent to 459,000 won.
Energy and chemical shares went up, with leading refiner SK Innovation jumping 1.94 percent to 120,900 won and LG Chem soaring 3.33 percent to 450,500 won.
The local currency ended at 1,311 won against the greenback, down 0.70 won from the previous session’s close.
Bond prices, which move inversely to yields, ended mixed. The yield on three-year Treasurys fell 0.2 basis point to 3.273 percent, and the return on the benchmark five-year government bonds remained unchanged at 3.284 percent.
Source: Yonhap News Agency