April 19, 2024

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[THE INVESTOR] Korean stocks ended higher on March 6 as Samsung Electronics and other export stocks rallied on easing fears of a global trade war. The Korean won rose against the US dollar.

The benchmark KOSPI rose 36.35 points, or 1.53 percent, to close at 2,411.41. Trade volume was moderate at 395 million shares worth 6.51 trillion won (US$6.05 billion).

The local stock market opened higher, taking a cue from a rebound on Wall Street overnight.

Seo Sang-young, an analyst at Kiwoom Securities, said receding fears of a global trade war and rising oil prices boosted export-related stocks.

Samsung Electronics jumped 4.03 percent to 2,351,000 won, and SK hynix, a global chipmaker, climbed 5.24 percent to 82,400 won.

Naver, the operator of the country’s top internet portal, rose 2.18 percent to 796,000 won.

Hyundai Motor gained 2.61 percent to 157,000 won, and its smaller affiliate Kia Motors rose 1.8 percent to 34,000 won.

The local currency closed at 1,076.10 won against the US dollar, up 5.90 won from the previous session’s close.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)