April 25, 2024

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[THE INVESTOR] South Korean stocks ended at a fresh record high on July 17 taking a cue from gains on Wall Street last week. The won rose against the US dollar.

The benchmark Korea Composite Stock Price Index rose 10.47 points, or 0.43 percent, to close at a record high of 2,425.10. Trade volume was moderate at 252.17 million shares worth 4.82 trillion won (US$4.27 billion), with gainers outnumbering losers 526 to 279.

Institutional investors bought a net 110.77 billion won worth of stocks on expectations that major companies like Samsung Electronics will come up with solid second-quarter earnings results later this month. 

Market bellwether Samsung Electronics rose 0.32 percent to 2,532,000 won, with its smaller rival SK hynix up 0.14 percent at 71,200 won. Defensive stocks advanced, with Korea Electric Power Corp. rising 1.07 percent to 42,400 won.    

Among losers, top carmaker Hyundai Motor fell 2.27 percent to 150,500 won, and No. 1 auto parts maker Hyundai Mobis declined 0.40 percent to 249,500 won.

The local currency closed at 1,128.30 won against the US dollar, up 5.00 won from the previous session‘s close.

By Alex Lee and newswires (alexlee@heraldcorp.com)