Seoul: Stocks end near record high on chip boost, foreign buying

[SEOUL] South Korean shares ended near a record closing high on Thursday, lifted by chip heavyweights and strong foreign buying, while investors awaited crucial US jobs data for cues on the global economy's recovery path. The won ended flat, while the benchmark bond yield fell.

The Kospi closed up 23.20 points or 0.72 per cent at 3,247.43, the highest since the record close on May 10 and extending gains to a fifth straight session.

Leading the benchmark index, chip giants Samsung Electronics and SK Hynix jumped 2.48 per cent and 2.38 per cent, respectively, while the subindex for electric and electronics stocks climbed 2.32 per cent.

Among other heavyweights, battery makers LG Chem and Samsung SDI added 0.62 per cent and 1.47 per cent, respectively.

Foreigners were net buyers of 232.2 billion won (S$276 million) worth of shares on the main board.

The focus this week will be on a weekly US unemployment report and May private payrolls data due later in the day, followed by monthly jobs numbers on Friday.

The won ended at 1,113.6 per dollar on the onshore settlement platform, nearly unchanged from its previous close of 1,113.3.

In offshore trading, the won was quoted at 1,113.7 per dollar, down 0.2 per cent from the previous day, while in non-deliverable forward trading, its one-month contract was quoted at 1,113.5.

In money and debt markets, June futures on three-year treasury bonds rose 0.02 point to 110.82, while the three-month Certificate of Deposit rate was quoted at 0.66 per cent in late afternoon trade.

The most liquid three-year Korean treasury bond yield fell by 1.9 basis points to 1.187 per cent, while the benchmark 10-year yield fell by 0.9 basis point to 2.193 per cent.

REUTERS