Seoul shares rose on Friday led by banks such as KB Financial Group as worries about the results of European bank stress tests eased and robust US earnings restored investor confidence. The Korea Composite Stock Price Index (KOSPI) closed up 1.30 percent at 1,758.06 points.
Foreign investors were buyers of a net 199 billion won ($165.4 million) worth of stocks, and institutions purchased a net 63 billion won worth. Shares in KB Financial Group jumped 7.74 percent and Shinhan Financial Group rose 4.54 percent. The banking industry sub-index was up 5.22 percent after falling 4 percent from Monday to Thursday, versus the KOSPI's 0.2 pct loss. Shares in LG Display, the world's No 2 flat panel maker, advanced 3.7 percent. Hynix Semiconductor, the world's No 2 memory chip maker, climbed 2.9 percent. Advancers outnumbered decliners 522 to 281 and 75 issues ended flat. Trading volume was 363.7 million shares worth 6.9 trillion won, compared with 393 million shares worth 6.9 trillion won in the previous session.
Comments
Comments are closed.