Seoul shares extended their winning streak to a seventh day Wednesday helped by tech gains, with investors keeping an eye on additional US tariffs. The Korean won rose against the US dollar.
The benchmark Korea Composite Stock Price Index rose 44.71 points, or 1.7 percent, to close at 2,671.52.
Trade volume was moderate at 519.07 million shares worth 14.68 trillion won ($10.2 billion), with winners outnumbering losers 573 to 303.
Institutions and foreigners bought a combined 1.17 trillion won worth of stocks, offsetting retail investors' stock selling valued at 1.22 trillion won.
On top of 25 percent tariffs on all steel and aluminum imports, the US government is set to announce tariffs of around 25 percent on automobile, semiconductor and pharmaceutical imports as soon as April 2.
If imposed, new tariffs will definitely hit related industries in South Korea, which heavily relies on exports to the US for growth.
"Samsung Electronics' 3 trillion-won stock cancellation plan helped buoy tech stocks, allowing a weeklong winning streak," NH Securities Co. analyst Kim Byeong-yeon said.
In Seoul, tech and auto stocks led gains.
Market behemoth Samsung Electronics rose 3.16 percent to 58,700 won, No. 2 chipmaker SK hynix jumped 4.05 percent to 218,500 won, and top carmaker Hyundai Motor gained 1.75 percent to 204,000 won.
Leading battery maker LG Energy Solution climbed 4.42 percent to 366,000 won, and shipbuilder Samsung Heavy Industries jumped 13.92 percent to 14,730 won.
Among decliners, steelmaker Hyundai Steel fell 1.43 percent to 24,150 won, and national flag carrier Korean Air declined 0.21 percent to 24,000 won.
The local currency was quoted at 1,438.50 won against the greenback at 3:30 p.m., up 5.2 won from the previous session. (Yonhap)
