Seoul: Stocks end at record high on strong US jobs data

[SEOUL] South Korean shares ended at a record high on Monday following strong US jobs data over the weekend, though gains were capped by caution ahead of US key inflation data.

The benchmark Kospi closed up 12.04 points, or 0.37 per cent, at a record close of 3,252.12. The index gained as much as 0.75 per cent in early trade, just notches below an intraday record high of 3,266.23.

Among the heavyweights, technology giant Samsung Electronics fell 0.36 per cent, while both battery maker LG Chem and internet giant Naver rose 0.62 per cent and 1.54 per cent, respectively.

Foreigners were net sellers of US$165.90 million worth of shares on the main board.

Investors' focus is on US inflation data due later this week, which could add pressure on policymakers to taper monetary stimulus.

Meanwhile, data out of Beijing showed China's imports grew at their fastest pace in a decade in May, fuelled by surging commodity prices, while export growth missed expectations.

REUTERS