Seoul: Stocks end the year 3.6% higher

[SEOUL] South Korean shares edged down on Thursday (Dec 30), the last trading day of 2021, to end the year 3.6 per cent higher, in thin trading as investors refrained from making big bets. The Korean won weakened, while the benchmark bond yield rose.

The benchmark Kospi fell 15.64 points, or 0.52 per cent, to 2,977.65. The index has gained 3.6 per cent this year after a 30.8 per cent rise in 2020.

Among the heavyweights, technology giant Samsung Electronics fell 0.63 per cent and peer SK Hynix rose 3.15 per cent, while LG Chem fell 2.07 per cent and Naver fell 0.92 per cent.

Overall, the stocks struggled to cope with risks related to coronavirus this year, while technology and chip shares led some gains.

Thursday was an uneventful last trading day of the year where some offloaded shares following ex-dividend date, said Seo Sang-young, an analyst at Mirae Asset Securities.

Foreigners were net sellers of 222.4 billion won (S$253 million) worth of shares on the main board.

The won was quoted at 1,188.8 per dollar on the onshore settlement platform, 0.19 per cent lower than its previous close at 1,186.5.

In offshore trading, the won was quoted at 1,189.3 per dollar, down 0.4 per cent from the previous day, while in non-deliverable forward trading its 1-month contract was quoted at 1,190.4.

The trading volume during the session in the Kospi index was 454.04 million shares. Of the total 931 issues traded, 377 shares advanced.

The won has lost 8.6 per cent against the dollar so far this year.

The most liquid 3-year Korean treasury bond yield rose by 1.5 basis points to 1.798 per cent, while the benchmark 10-year yield rose by 6.3 basis points to 2.243 per cent.

REUTERS