SEOUL, May 7 (Yonhap) — South Korean stocks extended their winning streak to a third session Friday on the back of growing hopes for an economic recovery and strong bio gains. The Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) went up 18.46 points, or 0.58 percent, to close at 3,197.2 points.
Trading volume was moderate at about 972 million shares worth some 14.8 trillion won (US$13.2 billion), with gainers outnumbering losers 645 to 223.
Foreigners sold a net 194 billion won, while retail investors purchased 348 billion won. Institutions offloaded a net 142 billion won.
The key stock index opened with mild gains, tracking the Wall Street rally that stemmed from improved U.S. unemployment data.
The Dow Jones Industrial Average gained 0.93 percent to close at a record high.
Construction, energy and financial shares performed well on speculation of a faster-than-expected economic recovery around the world, while tech stocks slumped on lingering inflation worries.
“Overall, the (U.S.) jobless data had a positive impact on the local cyclical stocks,” Shinhan Investment Corp. analyst Choi Yoo-joon said.
In Seoul, market bellwether Samsung Electronics retreated 0.49 percent to 81,900 won, while No. 2 chipmaker SK hynix added 0.39 percent to 129,500 won.
Giant pharmaceutical firm Samsung Biologics increased 2.68 percent to 804,000 won, with Celltrion spiking 5.54 percent to 266,500 won.
Internet portal operator Naver edged down 0.14 percent to 361,000 won, and its rival Kakao retreated 0.43 percent to 114,500 won.
Leading chemical firm LG Chem moved down 2.03 percent to 919,000 won. Top automaker Hyundai Motor climbed 0.22 percent to 224,000 won.
The local currency closed at 1,121.3 won against the U.S. dollar, up 4.5 won from the previous session’s close.
Bond prices, which move inversely to yields, closed mixed. The yield on three-year Treasurys lost 0.3 basis point to 1.137 percent, while the return on the benchmark five-year government bond added 1.4 basis points to 1.643 percent.