[THE INVESTOR] South Korean stocks finished at an all-time high on Oct. 20, as investors scooped up tech shares, market analysts said. The Korean won fell against the US dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.48 points, or 0.67 percent, to close at 2,489.54.

Trade volume was moderate at 310 million shares worth 5.58 trillion won (US$4.93 billion), with gainers outnumbering losers 458 to 330.

The local stock market opened higher on overnight gains in Wall Street and extended its gains on tech stocks.

“Market concerns over the nomination of a new Fed chief have eased, and investors are buying on dips,” said Seo Sang-young, an analyst at Kiwoom Securities.

Tech stocks led the market gains, and utility stocks advanced, following a proposal by a state commission to restart the construction of two nuclear power reactors.

Samsung Electronics, the top market cap here, advanced 1.62 percent to end at 2,692,000 won.

SK hynix, a major chipmaker, surged 2.78 percent to 81,200 won.

State-run utility firm Korea Electric Power Corp. gained 0.61 percent to end at 41,100 won, as Seoul is expected to resume construction of two nuclear reactors, despite President Moon Jae-in‘s pledge to phase out atomic energy.

A state commission charged with gauging public opinion on the Shin Kori-5 and Shin Kori-6 reactors in the southeastern city of Ulsan announced that 59.5 percent of a 471-member jury supported the resumption of the project while 40.5 percent backed its abandonment.

In contrast to the widespread gains, top steelmaker POSCO shed 0.88 percent to 337,000 won, and AmorePacific, the No. 1 cosmetics maker, fell 2.09 percent to end at 280,500 won.

The local currency closed at 1,131.00 won against the US dollar, up 1.4 won from the previous session’s close.

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