Seoul: Shares close at record high on Samsung rally, US stimulus
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[SEOUL] South Korean shares closed at a record high on Monday, as Samsung Electronics rallied and US President Donald Trump signed a long-awaited pandemic aid and spending package offsetting pandemic-related worries at home.
The benchmark Kospi ended up 1.74 points, or 0.06 per cent, at 2,808.60, extending gains to a third straight session.
Mr Trump on Sunday signed into law a US$2.3 trillion aid package, officials said, restoring unemployment benefits to millions of Americans and averting a federal government shutdown.
The US stimulus news outweighed worries over South Korea reporting the first variant of coronavirus linked to the rapid rise in infections in Britain in three people. The country reported 808 new Covid-19 cases on Sunday.
Chip giant Samsung Electronics soared as high as 2.96 per cent to a record high ahead of its ex-dividend date, while another heavyweight Hyundai Motor jumped 1.3 per cent.
The trading volume during the session in the Kospi index was 977.65 million shares. Of the total traded issues of 907, only 314 shares advanced.
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Foreigners were net buyers of US$47.34 million worth of shares on the main board.
REUTERS
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