April 27, 2024

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[THE INVESTOR] South Korean stocks finished at an all-time high on Oct. 23 as investors scooped up tech shares. The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.51 point, or 0.02 percent, to close at 2,490.05. The main index opened higher, tracking gains on Wall Street, and surged to the 2,500 level during the session.

Trade volume was moderate at 272 million shares worth 4.7 trillion won (US$4.93 billion), with losers outnumbering winners 469 to 323.

Tech stocks led the gains, with market bellwether Samsung Electronics rising 0.85 percent to 2,715,000 won and No. 2 chipmaker SK hynix jumping 4.31 percent to 84,700 won.

Companies, such as leading cosmetics giant AmorePacific, gained 0.18 percent to end the day at 281,000 won per share, with LG Household & Healthcare, climbing 1.24 percent to 1,062,000 won.

 In contrast to the widespread gains, top steelmaker POSCO fell 1.34 percent to 332,500 won and state-run utility firm Korea Electric Power Corp. shed 1.70 percent to 40,400 won. The local currency closed at 1,130.20 won against the dollar, up 0.80 won from the previous session‘s close.

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