Seoul: Stocks log first gain in five days on recovery hopes
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korean shares rose for the first time in five sessions on Thursday as reassurance from US policymakers powered hopes of a faster economic rebound from the Covid-19 pandemic.
The benchmark Kospi rose 11.98 points, or 0.40 per cent, to 3,008.33.
Among the heavyweights, technology giant Samsung Electronics rose 0.25 per cent and peer SK Hynix fell 0.37 per cent, while LG Chem rose 0.51 per cent and Naver fell 1.8 per cent.
Investors seem to be jumping into the local stock market every time the benchmark index swung below the 3,000-level, said Seo Jung-hun, an analyst at Samsung Securities.
US Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell on Wednesday indicated to Congress that they had confidence in the US economy.
Foreigners were net sellers of 82.1 billion won (S$97.5 million) worth of shares on the main board.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
The Kospi has risen 4.69 per cent so far this year, but lost 4.0 per cent in the previous 30 trading sessions.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
