April 25, 2024

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[THE INVESTOR] Seoul shares ended higher on May 23 as gains made by technology shares helped offset declines of other major sectors. The Korean won rose against the US dollar.

The benchmark KOSPI moved up 6.34 points, or 0.26 percent, to 2,471.91. Trade volume was heavy at 746.41 million shares worth 9.13 trillion won (US$8.40 billion) changing hands, with decliners outnumbering advancers 584 to 247.

Technology shares led gains -- market bellwether Samsung Electronics jumped 3.60 percent to 51,800 won, and No. 2 chipmaker SK hynix climbed 6.96 percent to 95,300 won.

Among other gainers, leading chemical firm LG Chem advanced 1.48 percent to 343,500 won and No.1 wireless services provider SK Telecom was up 0.90 percent to 224,500 won.  

But top carmaker Hyundai Motor fell 3.02 percent to 144,500 won, while leading steelmaker POSCO declined 2.35 percent to 352,500 won. Cosmetics giant Amorepacific backtracked 0.30 percent to 328,500 won.

The local currency closed at 1,080.70 won against the US dollar, up 4.70 won from the previous session.

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