April 20, 2024
Market Now
Seoul stocks extend gains for 5th session on eased trade concerns
[THE INVESTOR] Korean stocks closed higher for a fifth straight session on June 7 as US lawmakers move to restrict President Donald Trump’s authority on imposing tariffs, analysts said. The Korean won rose against the US dollar.
The benchmark KOSPI soared 16.82 points, or 0.69 percent, to close at 2,470.58. Trade volume was moderate at 462 million shares worth 7.8 trillion won (US$7.30 billion), with winners outnumbering losers 515 to 293.
Institutions and foreigners bought a net 174 billion won and 138 billion won worth of local stocks, respectively, while retail investors dumped a net 318 billion won.
Most large-cap shares traded higher across the board, with bank and steel shares leading the rally.
The local currency closed at 1,069 won against the US dollar, up 1.70 won from the previous session’s close.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
