Seoul: Shares extend gains on strong export data, Wall St boost

[SEOUL] South Korean shares extended gains to a third straight session on Thursday, tracking a record close in Wall Street, as local upbeat trade data boosted risk appetite.

The Kospi closed up 46.29 points, or 1.49 per cent, at 3,160.84, after gaining 0.7 per cent in the previous session.

US stocks closed at record highs on Wednesday on Joe Biden's inauguration and as solid results from Netflix sparked a rally in shares of "stay-at-home" beneficiaries.

Back home, exports expanded at a much faster pace in the first 20 days of January, driven by strong demand from major trading partners and underpinned by crucial sales of chips, cars and mobile devices.

Among major heavyweights, the nation's biggest search engine operator Naver and messenger app operator Kakao Corp soared 4.7 per cent and 2.3 per cent, respectively, while chip giant Samsung Electronics also added 1 per cent.

Foreigners were net buyers of US$203.45 million worth of shares on the main board.

REUTERS