South Korean stocks rose more than 1 percent Thursday driven by solid gains of tech giants amid a pause by the Donald Trump administration in imposing sweeping tariffs. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 27.48 points, or 1.1 percent, to close at 2,536.75, extending the winning streak to a third session.
The index opened higher, tracking overnight increases on Wall Street, and extended gains further.
Trade volume was moderate at 470.03 million shares worth 11.65 trillion won ($6.35 billion), with winners outnumbering losers 596 to 280.
Foreigners and institutions purchased a net 355.78 billion won and 162.28 billion won worth of shares, respectively, while retail investors sold a net 607.74 billion won worth of shares.
"Investors digested Trump's tariff policy, though volatility is expected for the time being," Han Ji-young, an expert from Kiwoom Securities, said.
Washington announced the postponement of the implementation of hefty tariffs on Canada and Mexico amid fears of a global trade war.
Top-cap tech shares led the upturn of the index.
Tech giant Samsung Electronics surged 2.08 percent to 54,000 won, and SK hynix advanced 2.36 percent to 203,500 won.
But leading battery maker LG Energy Solution shed 0.87 percent to 342,000 won.
Major bio shares gathered ground. Samsung Biologics went up 0.37 percent to 1,089,000 won, and Celltrion climbed 1.51 percent to 181,000 won.
Kakao, the operator of the country's top mobile messenger, surged 4.86 percent to 45,300 won, and internet platform giant Naver increased 1.31 percent to 232,000 won.
Carmakers ended mixed. Top automaker Hyundai Motor lost 0.49 percent to 203,500 won, while its sister affiliate Kia grew 0.71 percent to 98,800 won.
Top steelmaker POSCO Holdings gained 0.21 percent to 242,500 won.
Financials lost ground. KB Financial Group dived 6.7 percent to 84,900 won, and Shinhan Financial Group slid 1.38 percent to 50,000 won.
The local currency was quoted at 1,447.7 won against the greenback at 3:30 p.m., down 3.4 won from the previous session. (Yonhap)
