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지나쌤

Seoul shares close higher on tech, battery gains

By Yonhap

Published : March 12, 2024 - 16:14

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)

South Korean stocks ended higher Tuesday as investors scooped up tech, battery and other blue chips. The local currency fell against the US dollar.

The benchmark Korea Composite Stock Price Index rose 21.97 points, or 0.83 percent, to 2,681.81.

Trade volume was moderate at 390 million shares worth 9.45 trillion won ($7.3 billion). Losers, however, beat winners 495 to 365.

Institutions led the overall gains, buying a net 508 billion won, while foreign and retail investors unloaded shares.

Han Ji-young, an analyst at Kiwoom Securities, said the Kospi appears to have gained traction as investors purchased blue chips following losses the previous session.

He added that the latest US consumer price data scheduled to be announced later in the day will be a key factor in determining the direction of the market this week.

Tech shares led the overall market advance, with Samsung Electronics rising 1.24 percent to 73,300 won and LG Electronics gaining 2.41 percent to close at 97,800 won.

Battery-related shares performed stronger, with LG Energy Solution climbing 4.74 percent to 419,000 won and Samsung SDI surging 11.12 percent to 459,000 won.

Energy and chemical shares went up, with leading refiner SK Innovation jumping 1.94 percent to 120,900 won and LG Chem soaring 3.33 percent to 450,500 won.

The local currency ended at 1,311 won against the greenback, down 0.70 won from the previous session's close. (Yonhap)