Seoul: Stocks end higher ahead of US payrolls data

[SEOUL] South Korean shares ended higher on Friday, as record closing highs on US major stock indexes boosted risk appetite, with investors awaiting the crucial US payrolls data due later in the day.

The benchmark Kospi closed up 25.21 points, or 0.79 per cent, at 3,201.06, rebounding from a 0.97 per cent loss on Thursday. It gained 2.14 per cent for the week, following a 2.40 per cent jump in the previous week.

Leading the gains on the benchmark were tech heavyweights.

Chip giants Samsung Electronics and SK Hynix rose 0.79 per cent and 0.47 per cent, respectively, while web portal operator Naver added 2.26 per cent.

LG Electronics surged 10 per cent to a more than two-week high, following media reports that Apple was rumoured to be visiting Asian suppliers and carmakers to prepare for its mass production of "Apple Car".

Foreigners were net buyers of US$497.09 million worth of shares on the main board.

REUTERS