1st LD Writethru: S. Korean stocks keep winning streak for 4 days
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E-mail Xinhua, April 6, 2021
SEOUL, April 6 (Xinhua) -- South Korean stocks kept a winning streak for four days on Tuesday as foreigners bought domestic shares following the positive economic data from the United States.
The benchmark Korea Composite Stock Price Index (KOSPI) added 6.25 points, or 0.20 percent, to settle at 3,127.08. Trading volume stood at 1.26 billion shares worth 13.5 trillion won (12.1 billion U.S. dollars).
The KOSPI started 0.10 percent higher, but it turned downward in the morning session as local financial institutions turned into net sellers.
The main index shifted into a positive territory in late afternoon session as foreigners remained net buyers following the upbeat economic indicators from the United States.
The services purchasing managers' index (PMI), announced by the U.S. Institute for Supply Management (ISM), rose to a record high in March, indicating the U.S. economic recovery.
U.S. companies added 916,000 jobs in March, beating market expectations of about 675,000. Jobless rate declined to 6.0 percent in March from 6.2 percent in the previous month.
The Dow Jones Industrial Average climbed 1.13 percent overnight, and the S&P 500 added 1.44 percent. The Nasdaq Composite Index increased 1.67 percent.
Domestic large-cap stocks ended mixed. Market bellwether Samsung Electronics gained 0.7 percent, but memory chip giant SK hynix was unchanged compared to the previous day. The most-used search engine Naver picked up 1.2 percent, but leading chemical firm LG Chem slumped 0.6 percent.
The biggest automaker Hyundai Motor sank 1.7 percent, but Samsung Biologics, a pharmaceutical unit of Samsung Group, advanced 0.5 percent. Biopharmaceutical behemoth Celltrion shrank 1.5 percent, and rechargeable battery producer Samsung SDI retreated 2.0 percent.
The small-cap KOSDAQ lost 1.14 points, or 0.12 percent, to close at 968.63.
The local currency finished at 1,119.6 won versus the greenback, up 8.1 won from the prior close. The South Korean currency appreciated on higher demand for risky assets. Enditem
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