The Korea Herald

ssg
소아쌤

Seoul shares close tad higher on auto gains

By Yonhap

Published : Jan. 25, 2024 - 16:22

    • Link copied

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

Seoul shares ended slightly higher on Thursday, helped by gains in auto stocks as their 2023 earnings fared well on the back of robust demand. The Korean won rose against the US dollar.

The benchmark Korea Composite Stock Price Index rose 0.03 percent, or 0.65 points, to 2,470.34. Trading volume was moderate at 337.26 million shares worth 7.5 trillion won ($5.6 billion), with losers outpacing gainers 443 to 424.

Institutions and foreigners bought a combined 236 billion won worth of stocks, offsetting retail investors' stock selling valued at 250.26 billion won.

Overnight, the Dow Jones Industrial Average fell 0.3 percent to 37,806.39, while the tech-heavy Nasdaq rose 0.4 percent to 15,481.92.

US electric vehicle maker Tesla Inc. reported weaker-than-expected earnings for the fourth quarter, which dragged down EV battery makers here.

In Seoul, strong earnings results by Hyundai Motor Co. and its affiliate Kia Corp. pushed up the stocks and helped the main index end in positive territory.

Top carmaker Hyundai Motor Co. rose 2 percent to 188,700 won, and its affiliate Kia Corp. jumped 5.8 percent to 93,000 won.

Market bellwether Samsung Electronics Co. rose 0.1 percent to 74,100 won.

Among decliners, Korea Aerospace Industries Co., the country's sole aircraft manufacturer, fell 0.4 percent to 53,800 won, leading battery maker LG Energy Solution declined 3.3 percent to 368,000 won, and leading budget carrier Jeju Air Co. shed 0.5 percent to 13,010 won.

The local currency ended at 1,335.80 won against the greenback, up 1.2 won from the previous session's close. (Yonhap)