ANN/THE KOREA HERALD – South Korean stocks ended nearly one per cent higher yesterday, driven by gains of semiconductor and battery shares amid eased woes over the United States (US) administration’s sweeping tariffs. The Korean won soared to a four-month high against the US dollar.
The benchmark Korea Composite Stock Price Index rose by 23.17 points, or 0.95 per cent, to close at 2,455.89.
Trade volume was relatively light at 474.1 million shares worth KRW6.56 trillion, with winners beating losers 634 to 255.
Retail investors bought a net KRW192.6 billion worth of stocks, while foreign investors and institutions combined sold a net KRW264.8 billion.
“Market sentiment is increasingly leaning toward the view that the tariff risks triggered by US President Donald Trump may have peaked and are now beginning to ease,” analyst at Kiwoom Securities Han Ji-young said. Most blue chips advanced following losses the previous session.
Market cap Samsung Electronics jumped 1.81 per cent to KRW56,200 and leading battery maker LG Energy Solution climbed 2.24 per cent to KRW343,000.
Top automaker Hyundai Motor added 1.01 per cent to close at KRW179,300 and leading defence equipment manufacturer Hanwha Aerospace rose 1.67 per cent to end at KRW 792,000.
Shipbuilders also enjoyed brisk trading. Industry leader HD Hyundai Heavy Industries gained 1.46 per cent to end at KRW347,500, and Hanwha Ocean jumped 3.22 per cent to KRW80,100.
The local currency was trading at KRW1,424.1 against the US dollar at 3.30pm, jumping KRW25.8 from the previous session to reach its highest point since December 6, when it changed hands against the greenback at KRW1,419.2.
