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Seoul stocks at another historic high, Samsung affiliates lead gains
By Catherine ChungPublished : July 17, 2017 - 16:25
The benchmark Korea Composite Stock Price Index rose 10.47 points, or 0.43 percent, to close at a record high of 2,425.10. Trade volume was moderate at 252.17 million shares worth 4.82 trillion won ($4.27 billion), with gainers outnumbering losers 526 to 279.
Institutional investors bought a net 110.77 billion won worth of stocks on expectations that major companies like Samsung Electronics will come up with solid second-quarter earnings results later this month.
Market bellwether Samsung Electronics rose 0.32 percent to 2,532,000 won, with its smaller rival SK hynix Inc. up 0.14 percent at 71,200 won. Defensive stocks advanced, with Korea Electric Power Corp. rising 1.07 percent to 42,400 won.
Among losers, top carmaker Hyundai Motor Co. fell 2.27 percent to 150,500 won, and No. 1 auto parts maker Hyundai Mobis Co. declined 0.40 percent to 249,500 won.
The local currency closed at 1,128.30 won against the US dollar, up 5.00 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.4 basis point to 1.754 percent, and the return on the benchmark five-year government bond added 1.8 basis points to 1.962 percent. (Yonhap)
