Seoul: Shares climb on US stimulus talks, drop in local virus cases
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[SEOUL] South Korean shares gained on Monday as optimism over some progress in US stimulus talks and a drop in domestic coronavirus cases lifted sentiment.
The benchmark Kospi was up 5.21 points, or 0.22 per cent, at 2,346.74.
The market was buoyed by hopes of a US fiscal package, but weaker-than-expected Chinese economic growth data capped gains, DS Investment & Securities analyst Na Jeong-hwan said.
US House Speaker Nancy Pelosi said she was optimistic legislation on a coronavirus relief package could be pushed through before Election Day.
Foreigners were net buyers of 43.4 billion won (S$51.6 million) worth of shares on the main board.
The Kospi has risen 6.78 per cent so far this year, and gained 0.7 per cent in the previous 30 trading sessions.
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The trading volume during the session in the Kospi index was 911.37 million shares. Of the total traded issues of 905, the number of advancing shares was 440.
REUTERS
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