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Kospi up 0.31%, increases third day in a row

June 21,2019
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Shares closed higher for the third consecutive day on Thursday as institutions scooped up large-cap stocks. The won sharply rose against the dollar.

The benchmark Kospi rose 6.51 points, or 0.31 percent, to 2,131.29. Trading volume was moderate at 996.2 million shares worth 3.9 trillion won ($3.4 billion), with winners outnumbering losers 540 to 264.

Institutional investors have been net buyers for four consecutive trading days. Foreign investors and retail investors were net sellers on Thursday on profit taking.

While foreign investors turned from net buyers to net sellers over the last two days, retail investors have been net sellers of their holdings over the last three trading days.

Tech stocks were among gainers, with Samsung Electronics rising 0.33 percent to 45,500 won. Chipmaker SK Hynix inched up 0.15 percent to 67,300 won. LG Electronics, however, fell 0.37 percent to 80,500 won.

Hyundai Motor climbed 0.36 percent to 140,500 won, and its sister company, Kia Motors, gained 0.12 percent to 42,400 won. Auto parts maker Hyundai Mobis gained 0.22 percent to 224,000 won.

Bio shares ended in positive terrain as well. Celltrion jumped 1.18 percent to 214,000 won, and Samsung BioLogics gained 0.63 percent to 317,000 won.

SK Innovation rose 0.94 percent to 161,000 won.

Among losers, SK Telecom fell 0.95 percent to 260,500 won, dominant tobacco company KT&G declined 0.60 percent to 99,900 won. National flag carrier Korean Air shed 0.32 percent to 31,300 won.

The secondary Kosdaq rose 9.61 points, or 1.34 percent, to close at 727.32.

The junior market has been rising for two consecutive trading days, particularly as foreign investors and institutional buyers have been increasing their purchases of semiconductor-related and pharmaceutical stocks.

Both foreign investors and institutional investors were net buyers, while retail investors were net sellers of shares.

Semiconductor shares saw a 2.8-percent increase, while pharmaceutical shares went up 2.2 percent. Telecommunication equipment shares were up 1.8 percent.

The won closed at 1,162.10 won against the dollar, sharply down 14 won from the previous session’s close.

Bond prices, which move inversely to yields, closed higher.

The yield on three-year bonds fell 6.4 basis points to 1.420 percent, and the return on 10-year bonds declined 5.6 basis points to 1.545 percent.

BY KO JUN-TAE, YONHAP [ko.juntae@joongang.co.kr]