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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

Seoul stocks end higher as Italy fear recedes

  • PUBLISHED :May 31, 2018 - 16:06
  • UPDATED :May 31, 2018 - 16:06
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[THE INVESTOR] Korean stocks rebounded from the previous session’s losses on May 31 as worries over Italy‘s possible eurozone exit eased, analysts said. The Korean won rose against the US dollar.

The benchmark KOSPI rose 13.98 points, or 0.58 percent, to close at 2,423.01. Trade volume was large at 792 million shares worth 13 trillion won (US$12 billion) changing hands, with gainers outnumbering losers 530 to 304.

Individual investors and institutions bought a net 241 billion won and 65 billion won worth of local stocks, respectively, while foreigners dumped a net 352.7 billion won.

Large cap tech shares saw mixed trade, with market kingpin Samsung Electronics advancing 2.42 percent to close at 50,700 won.

The tech giant had plunged 3.51 percent in the previous session following reports that Samsung’s insurance units will sell their shares in Samsung Electronics in a bloc deal.

SK hynix, a major chipmaker was down 1.68 percent to 93,400 won.

Chemical shares were among the winners, with industry leader LG Chem soaring 2.42 percent to finish at 338,500 won.

Steelmakers remained in negative terrain, with POSCO edging down 0.73 percent to 339,500 won and Hyundai Steel retreating 2.37 percent to 61,800 won.

Pharmaceutical giant Celltrion was down 1.48 percent to 265,500 won, and No. 1 carmaker Hyundai Motor was up 1.09 percent to 139,000 won.

Naver, the country’s largest portal operator, jumped 2.61 percent to 669,000 won.

The local currency closed at 1,077.70 won against the US dollar, up 3.20 won from the previous session’s close.

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

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