SEOUL: South Korean stocks gained on Tuesday as overnight gains on Wall Street and stimulus in the eurozone boosted investor sentiment here, analysts said. The South Korean won rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.57 points, or 0.23 percent, to 2,001.38. Trading volume was moderate at 440 million shares worth 5.3 trillion won (US$4.83 billion), with gainers beating losers 438 to 352.
“Market conditions are positive at the moment, which helped the KOSPI exceed the 2,000-point level,” said Kim Hyung-yeol, an analyst at Kyobo Securities. “But concerns over corporate earnings and economic data are still serving as hurdles to a further rise.”
Autos, steelmakers and financial stocks led the overall market gain, while some tech shares slipped on profit-taking.
Automakers remained in positive terrain with industry leader Hyundai Motor surging 3.1 percent to end at 166,500 won, and its smaller affiliate, Kia Motors, rising 2.64 percent to end at 46,700 won.
