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Seoul shares end higher ahead of US inflation reportBy Yonhap
Published : July 12, 2023 - 16:05
Seoul shares ended higher Wednesday, led by gains in tech companies and airlines, as investors await a US inflation report for clues on future rate hikes. The South Korean won rose against the US dollar.
The benchmark Korea Composite Stock Price Index climbed 12.23 points, or 0.48 percent, to finish at 2,574.72.
Trading volume was moderate at 686.15 million shares worth 12.55 trillion won ($9.7 billion), with gainers outpacing decliners 496 to 362.
Overnight, the Dow Jones Industrial Average advanced 0.9 percent, and the tech-heavy Nasdaq Composite moved up 0.6 percent.
Institutions and foreigners bought a combined 244 billion won worth of stocks, offsetting individuals' stock selling valued at 254 billion won.
Investors are zeroed in on US consumer price index data set to be released later in the day as it will help predict whether the US central bank is at the end of its aggressive monetary tightening policy, analysts said.
In Seoul, large-cap stocks were mixed across the board.
Market bellwether Samsung Electronics Co. rose 0.6 percent to 71,900 won, No. 2 chipmaker SK hynix Inc. climbed 1.8 percent to 115,400 won, leading steelmaker Posco Holdings jumped 5.8 percent to 417,500 won, and leading refiner SK Innovation Co. gained 0.9 percent to 166,000 won.
Among decliners, top carmaker Hyundai Motor Co. fell 1.7 percent to 103,500 won, leading car battery maker LG Energy Solution declined 2.9 percent to 534,000 won, and KG Mobility, formerly SsangYong Motor Co., was down 0.2 percent at 8,600 won.
The local currency closed at 1,288.7 won against the US dollar, up 5 won from the previous session's close. (Yonhap)
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