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KOSPI hits fresh record high for 2nd day

PUBLISHED : October 12, 2017 - 16:03

UPDATED : October 12, 2017 - 16:03

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[THE INVESTOR] South Korean stocks hit fresh record highs on Oct. 12 as foreign investors continued to be net buyers of local stocks. The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.6 points, or 0.68 percent, to close at 2,474.76. Trade volume was moderate at 254 million shares worth 6.2 trillion won (US$5.4 billion).

The local stock market opened higher, taking its cue from a strong lead on Wall Street overnight.

Lee Kyung-min, an analyst at Daishin Securities, said macroeconomic environments at home and abroad have had a positive impact on South Korea‘s exporters.

Foreign investors scooped up a net 243.6 billion won worth of local stocks.

Top cap Samsung Electronics rose 0.29 percent to end at 2,740,000 won, while SK hynix, a global chipmaker, fell 0.67 percent to 88,500 won.

Naver, the operator of the country’s top Internet portal, gained 2.26 percent to 768,000 won.

No. 1 automaker Hyundai Motor climbed 0.97 percent to 156,500 won, while its smaller affiliate Kia Motors fell 0.77 percent to 32,300 won.

The local currency closed at 1,133.35 won against the US dollar, up 1.85 won from the previous session‘s close.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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