Seoul stocks rebound on Q3 earnings hopes
SEOUL, Oct. 23 (Yonhap) -- South Korean stocks rebounded after a choppy session Friday, buoyed by optimism for improved corporate earnings in the third quarter amid the pandemic. The Korean won closed unchanged to the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.76 points, or 0.24 percent, to close at 2,360.81.
Trading volume was moderate at 874 million shares worth 10.5 trillion won (US$9.3 billion), with gainers outnumbering losers 436 to 408.
Foreigners bought a net 37 billion won, while retail investors sold a net 270 billion won. Institutions purchased a net 225 billion won.
Stocks got off to a muted start amid lingering uncertainties over the ongoing talks for the new U.S. virus relief package.
But gains by auto and banking heavyweights led the KOSPI's hike, as investors pinned high hopes for a flurry of upbeat earnings reports scheduled for next week.
POSCO, LG Chem and banking large caps revealed estimate-beating earnings this week, fueling optimism for the third-quarter earnings to be released next week.
In Seoul, large caps closed mixed.
Market bellwether Samsung Electronics added 0.17 percent to 60,200 won, and No. 2 chipmaker SK hynix advanced 0.72 percent to 83,900 won.
Top pharmaceutical firm Samsung Biologics dipped 3.34 percent to 636,000 won, but Celltrion edged up 0.21 percent to 238,000 won.
Internet portal giant Naver lost 2.22 percent to 286,500 won, with its rival Kakao down 2.58 percent to 340,000 won.
Leading chemical maker LG Chem gained 1.72 percent to 650,000 won, while rechargeable battery maker Samsung SDI shed 1.16 percent to 424,500 won.
Hyundai Motor, the country's largest automaker, added 2.77 percent to 167,000 won, and top steelmaker POSCO spiked 4.76 percent to 220,000 won.
The local currency closed at 1,132.9 won per dollar, flat from the previous session's close.
jwc@yna.co.kr
(END)
-
Defense chief says N. Korea's hypersonic missile 'unsuccessful' in last-stage glide flight
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
N. Korea has capability to genetically engineer biological military products: U.S. report
-
PPP lawmaker says entire Cabinet should resign over general elections defeat
-
Relax, immerse yourself in scents at Venice Biennale's Korean Pavilion
-
Overdue debut of Korean abstract art pioneer Yoo Young-kuk at Venice Biennale
-
Defense chief says N. Korea's hypersonic missile 'unsuccessful' in last-stage glide flight
-
Questioning necessary for Kakao founder for suspected stock rigging: prosecution
-
(LEAD) Yoon vows to improve communication with people after election defeat
-
(4th LD) Finance chiefs of S. Korea, U.S., Japan recognize 'serious' concerns over 'sharp' won, yen depreciation
-
S. Korea to provide 100,000 tons of rice to 11 nations
-
Facebook page unveils photos of BTS member V in counter-terrorism unit gear
-
Yoon, Daegu mayor met to discuss post-election matters: sources
-
S. Korea to provide US$200 million in humanitarian aid to Ukraine this year