Seoul: Stocks end at record high on Democrat Senate win, recovery hopes

[SEOUL] South Korean shares ended at a record high on Thursday, led by heavyweights, with a Democratic win in US Senate elections in Georgia and economic recovery hopes boosting risk appetite.

The benchmark Kospi closed up 63.47 points, or 2.14 per cent, to 3,031.68, bouncing back from a 0.75 per cent fall in the previous session.

The index surpassed 3,000 for the first time on record on Wednesday, as investors driving the steepest rally in years look towards a broad recovery in exports beyond the country's tech titans.

Chip giant Samsung Electronics rose as much as 2.43 per cent, leading gains, ahead of its preliminary fourth-quarter earnings, where it is expected to report a 33 per cent jump in profit.

Foreigners were net buyers of US$101.31 million worth of shares on the main board.

REUTERS

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