April 27, 2024
Market Now
Seoul stocks end higher on hopes for peace on Korean Peninsula
[THE INVESTOR] South Korean shares ended higher on June11 as the upcoming summit between the United States and North Korea raised hope for eased tensions on the Korean Peninsula and greater chances for inter-Korean economic projects, analysts said. The Korean won rose against the US dollar.
The benchmark KOSPI added 18.57 points, or 0.76 percent, to finish at 2,470.15. Trade volume was moderate at 414.29 million shares worth 6.81 trillion won (US$6.34 billion), with gainers outnumbering losers 543 to 270.
Shares of infrastructure-related companies, such as builders, steelmakers, and electric firms, had a bullish day as they are expected to benefit from a thaw in inter-Korean ties and the subsequent increased chances for joint development projects.
The South Korean currency closed at 1,075.20 won against the US dollar, up 0.70 won from the previous session’s close.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
