South Korean stocks breached the 2,000-point level on Friday, breaking their five-session losing streak as foreign and institutional investors swooped on auto and tech shares in hopes of improved first-quarter earnings, analysts said. The South Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index rose 12.23 points, or 0.61 percent, to 2,004.28, breaking the 2,000-point level for the first time in five sessions since April 10 when it hit 2,008.61. Trading volume was moderate at 201.86 million shares worth 2.72 trillion won ($2.6 billion), with gainers outnumbering losers 469 to 309.

The KOSPI started higher on foreign and institutional buying and extended its earlier gains in the late-morning trading.

“Robust buying by foreign and institutional investors pulled up the KOSPI above the 2,000-point level,” said Eric Lee, an analyst\ at Daishin Securities Co. “However, it may take a while for the KOSPI to solidify its status at the 2,000-point level ahead of the earnings season to start from next week.”

Kim Hyoung-ryoul, an analyst at Kyobo Securities Co., said the market seems to have been awarded for holding out despite unfavorable economic factors such as concerns over U.S. tech shares, a slowdown in the Chinese economic growth and fund selling by retail investors. Most big cap shares ended in the positive territory.

Tech and auto shares were among the biggest gainers, leading the soar in the benchmark index. Tech heavyweight Samsung Electronics gained 0.58 percent to 1,378,000 won, and chipmaker SK hynix rose 3.02 percent to 39,200 won.

Top portal operator Naver climbed 1.76 percent to 750,000 won.

Biggest automaker Hyundai Motor shot up 2.08 percent to 245,000 won, and LG Chem, one of the leading chemical companies, advanced 2.10 percent to 268,000 won. (Yonhap)