Kospi ends up 0.43% on positive U.S. economic data

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,604.92 points on Monday, up 0.43 percent, or 11.10 points, from the previous trading session. [YONHAP] Shares closed higher Monday to snap their three-day slide as investors scooped up oversold stocks after U.S. gains. The won fell to the lowest in over two months against the dollar. The Kospi rose 11.1 points, or 0.43 percent, to close at 2,604.92. The Kosdaq added 6.73 points, or 0.89 percent, to end at 759.95. Trade volume was moderate at 235.86 million shares worth 7.6 trillion won ($5.5 billion), with gainers outpacing losers 434 to 427. Institutions and foreigners bought a combined 284 billion won, exceeding individuals' stock selling valued at 265 billion won. In the United States on Friday, the Dow Jones Industrial Average gained 0.09 percent to 43,275.91, and the tech-heavy Nasdaq Composite was up 0.63 percent to 18,489.55. Solid economic data in the United States buoyed local stocks, and further rate cut hopes by the U.S. Federal Reserve gave a boost to the stock market, analysts said. Large-cap stocks were mixed. Samsung Electronics slid 0.3 percent to 59,000 won while chipmaker SK hynix gained 1.92 percent to 190,900 won. Carmaker Hyundai Motor rose 1 percent to 237,000 won, while its affiliate Kia shed 0.11 percent to 95,000 won and their auto parts maker affiliate Hyundai Mobis dropped 0.2 percent to 334,500 won. Airlines traded higher. Korean Air gained 1.9 percent to 23,600 won and budget carrier Jeju Air was up 2.8 percent to 9,050 won. Bio shares also finished higher. Samsung Biologics jumped 2.92 percent to 1,091,000 won and Celltrion rose 1.75 percent to 191,700 won. Financial shares lost ground. KB Financial dropped 0.95 percent to 93,500 won while Shinhan Financial fell 1.24 percent to 55,800 won. Decliners included Samsung Heavy Industries, dropping 0.5 percent to 10,000 won, and Hyundai Steel, which shed 2 percent to 26,700 won. The local currency was trading at 1,375.2 won against the greenback at 3:30 p.m., up 5.5 won from the previous session. Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds dropped 0.5 basis points to 2.9 percent, and the return on the benchmark U.S. 10-year government bonds fell 1.4 basis points to 4.08 percent. BY KIM JU-YEON, YONHAP [[email protected]]

Kospi ends up 0.43% on positive U.S.

economic data Published: 21 Oct. 2024, 16:57 KIM JU-YEON kim.juyeon2@joongang.

co.kr A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,604.92 points on Monday, up 0.

43 percent, or 11.10 points, from the previous trading session. [YONHAP] Shares closed higher Monday to snap their three-day slide as investors scooped up oversold stocks after U.

S. gains. The won fell to the lowest in over two months against the dollar.

The Kospi rose 11.1 points, or 0.43 percent, to close at 2,604.

92. The Kosdaq added 6.73 points, or 0.

89 percent, to end at 759.95. Trade volume was moderate at 235.

86 million shares worth 7.6 trillion won ($5.5 billion), with gainers outpacing losers 434 to 427.

Institutions and foreigners bought a combined 284 billion won, exceeding individuals' stock selling valued at 265 billion won. In the United States on Friday, the Dow Jones Industrial Average gained 0.09 percent to 43,275.

91, and the tech-heavy Nasdaq Composite was up 0.63 percent to 18,489.55.

Solid economic data in the United States buoyed local stocks, and further rate cut hopes by the U.S. Federal Reserve gave a boost to the stock market, analysts said.

Large-cap stocks were mixed. Samsung Electronics slid 0.3 percent to 59,000 won while chipmaker SK hynix gained 1.

92 percent to 190,900 won. Carmaker Hyundai Motor rose 1 percent to 237,000 won, while its affiliate Kia shed 0.11 percent to 95,000 won and their auto parts maker affiliate Hyundai Mobis dropped 0.

2 percent to 334,500 won. Airlines traded higher. Korean Air gained 1.

9 percent to 23,600 won and budget carrier Jeju Air was up 2.8 percent to 9,050 won. Bio shares also finished higher.

Samsung Biologics jumped 2.92 percent to 1,091,000 won and Celltrion rose 1.75 percent to 191,700 won.

Financial shares lost ground. KB Financial dropped 0.95 percent to 93,500 won while Shinhan Financial fell 1.

24 percent to 55,800 won. Decliners included Samsung Heavy Industries, dropping 0.5 percent to 10,000 won, and Hyundai Steel, which shed 2 percent to 26,700 won.

The local currency was trading at 1,375.2 won against the greenback at 3:30 p.m.

, up 5.5 won from the previous session. Bond prices, which move inversely to yields, closed higher.

The yield on three-year government bonds dropped 0.5 basis points to 2.9 percent, and the return on the benchmark U.

S. 10-year government bonds fell 1.4 basis points to 4.

08 percent. BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.

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