SEOUL, Feb. 5 (Yonhap) — South Korean stocks rebounded Friday in line with rallies in global stock markets, as signs of recovery from the pandemic boosted foreign buying of local stocks. The Korean won fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 33.08 points, or 1.07 percent, to close at 3,120.63 points.
Trading volume was moderate at about 1.2 billion shares worth some 19.4 trillion won (US$17.3 billion), with gainers outnumbering losers 504 to 339.
Foreigners bought a net 185 billion won and institutions purchased a net 236 billion won, while retail investors sold a net 400 billion won.’
The stock index recovered to the 3,100-point mark on foreign and individual buying, led by strong financial and chemical advances.
Most of the KOSPI’s global peers also gained, tracking overnight record gains on the S&P 500.
“After the U.S. employment data showed improvement, the overall global stock markets fared strong on rising hopes of economic recovery,” said Kiwoom Securities analyst Seo Sang-young.
“Today’s KOSPI seemed linked to foreigner buying and Chinese stock indexes,” he added.
In Seoul, most large caps closed higher.
Market bellwether Samsung Electronics added 1.21 percent to 83,500 won, and No. 2 chipmaker SK hynix gained 2 percent to 127,500 won.
Top pharmaceutical firm Samsung Biologics slipped 0.12 percent to 812,000 won, and Celltrion closed unchanged at 341,500 won.
Internet portal giant Naver moved up 1.26 percent to 362,500 won, with its rival Kakao edging up 0.11 percent to 455,000 won.
Leading chemical maker LG Chem hiked 2.8 percent to 1,028,000 won, and rechargeable battery maker Samsung SDI jumped 3.75 percent to 775,000 won. Hyundai Motor, the country’s largest automaker, advanced 0.4 percent to 249,500 won.
The local currency closed at 1,123.7 won per dollar, down 5.2 won from the previous session’s close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 1.2 basis points to 0.982 percent, and the return on the benchmark five-year government bond fell 1.3 basis points to 1.311 percent.