Back To Top

Seoul stocks extend gains late Friday morning

Seoul stocks extended gains late Friday morning as investor sentiment was further boosted by reports of an imminent US-China trade deal. The Korean won gained further against the US dollar.  

The benchmark Korea Composite Stock Price Index rose 29.08 points, or 1.4 percent, to 2,166.43 as of 11:20 a.m.  

The main index opened higher and gained further for a sixth straight session as the United States and China are reportedly getting very close to signing a trade deal, with US President Donald Trump expected to call off new tariffs on Chinese goods Sunday (local time), analysts said.  Foreigners and institutions bought a combined 477 billion won ($407 million) worth of stocks, offsetting individuals' selling of stocks worth 483 billion won.  


(Yonhap)
(Yonhap)

Most large-cap stocks rose across the board.  

Market bellwether Samsung Electronics jumped 2.1 percent, and No. 2 chipmaker SK hynix soared 4.9 percent, leading steelmaker POSCO gained 3 percent.  

Among decliners, top carmaker Hyundai Motor fell 0.4 percent, No. 1 auto parts maker Hyundai Mobis declined 0.4 percent, and state-run utility Korea Electric Power Corp. shed 1.3 percent.  

The local currency was trading at 1,172.45 won against the US dollar, up 14.35 won from the previous session's close. (Yonhap)



MOST POPULAR