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Kospi rises 30.82 points to close at 2,467.49

Dec 29,2017
Seoul’s main bourse advanced on Thursday, the final trading day of the year, pushed up by the positive economic indicators from November.

The benchmark Kospi rose 30.82 points, or 1.26 percent, to close the year at 2,467.49 on Thursday. Foreign investors net bought Korean stocks worth 179.3 billion won ($168.54 million). Institutional investors scooped up 31.8 billion won from the local market. Retail investors offloaded 212.7 billion won on Thursday.

“Information-technology companies with bright earnings outlooks will continue to gain ground as electronics products also led the rising sales in the U.S. market for the holiday season,” said Seo Sang-young, a researcher at Kiwoom Securities.

By sector, electric and electronics shares rose 2.7 percent. Construction rose 2.1 percent and chemical shares increased 1.6 percent. Securities shares gained 0.9 percent. Market bellwether Samsung Electronics advanced 3.24 percent to close the session at 2,548,000 won. SK Hynix, the second-largest chipmaker in Korea, climbed up 1.86 percent to 76,500 won. Major chemical companies showed positive movement across the board on Thursday.

LG Chem, Korea’s top battery producer, pushed up 2.66 percent to 405,000 won. SK Innovation, top oil refiner in Korea, went up 1.24 percent to 204,500 won. Lotte Chemical stepped up 1.52 percent to 368,000 won. Top cosmetic shares were also in positive terrain. LG Household & Health Care gained 1.28 percent to close at 1,189,000 won. AmorePacific also inched up 0.83 percent to 304,500 won. Automotive shares were mixed across the board.

Kia Motors, Korea’s second-largest automotive company, edged up 0.45 percent to 33,500 won. Top auto company Hyundai Motor, however, inched down 0.32 percent to 156,000 won. Affiliate and parts maker Hyundai Mobis also stepped down 1.87 percent to 263,000 won.

Posco, Korea’s top steel maker, slipped 0.6 percent to 332,500 won.

Naver, a portal giant, retreated 0.80 percent to close the year at 870,000 won. Top telecommunications provider SK Telecom fell 0.19 percent to 267,000 won. Netmarble Games, nation’s top mobile game publisher, shed 0.53 percent to 188,500 won.

The secondary Kosdaq extended its winning streak into a fourth trading day, up 6.47 points, or 0.82 percent, to close the session at 798.42. The local currency closed at 1,070.50 won against the U.S. dollar, up 3.60 won from the previous session.

The three-year government bond fell two basis points to 2.13 percent. Return on 10-year bond also tumbled three basis points to 2.47 percent.

BY CHOI HYUNG-JO, YONHAP [choi.hyungjo@joongang.co.kr]