Seoul shares gained to their 14th record this month on Thursday as Samsung Electronics rose after the listing of a card affiliate was approved, while SK Telecom surged after reporting earnings that beat analyst estimates.
Exporters such as LG Electronics Inc also gained after positive US profit reports and economic data raised hopes for increased sales to South Korea's No 2 export market. However, Hynix Semiconductor Inc ended flat at 32,200 won after posting quarterly profits that missed expectations as prices of its memory chips plunged.
"Global markets are stronger because US corporate profits continue to be strong, while US economic data is not bad as some had feared. If this continues, there's no doubt that global markets will continue to gain," said Lee Woo-hyun, an analyst at Kyobo Securities.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.49 percent to 1,553.13 points. The index earlier hit a record 1,565.03, its 14th all-time high so far in April, a month in which the index has surged 6.9 percent, helped by stronger global markets and strong foreign buying.
Samsung Electronics Co Ltd rose 2.84 percent to 580,000 won after the Korea Exchange approved on Wednesday an initial public offering plan by credit card firm Samsung Card Co, in which the memory chipmaker owns a 46.9 percent stake. Apple Inc said on Wednesday quarterly profit soared 88 percent, further raising the outlook for the technology sector.
POSCO Co Ltd rose 0.63 percent to 400,000 won after the Korea Economic Daily reported the world's No 3 steel maker will swap a 1 percent POSCO stake for a similar holding in Hyundai Heavy Industries, the world's biggest shipbuilder.
The deal could help POSCO secure a stable destination for steel products while also helping it ward off potential hostile take-over bids. SK Telecom Co rose 1.59 percent to 191,500 won after the country's top mobile carrier reported better-than-expected first-quarter profit as its marketing costs grew by less than analysts had forecast.
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