Seoul, April 14 (IANS) South Korean stocks ended nearly 1 per cent higher on Monday, led by gains of semiconductor and battery shares amid eased woes over the US administration’s sweeping tariffs. The Korean won soared to a four-month high against the US dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 23.17 points, or 0.95 percent, to close at 2,455.89.
Trade volume was a bit slim at 474.1 million shares worth 6.56 trillion won (US$4.61 billion), with winners beating losers 634 to 255, reports Yonhap news agency.
Retail investors bought a net 192.6 billion won worth of stocks, while foreign investors and institutions combined sold a net 264.8 billion won.
“Market sentiment is increasingly leaning toward the view that the tariff risks triggered by U.S. President Donald Trump may have peaked and are now beginning to ease,” Han Ji-young, an analyst at Kiwoom Securities, said.
Most blue chips advanced following losses the previous session.
Market cap Samsung Electronics jumped 1.81 percent to 56,200 won, and leading battery maker LG Energy Solution climbed 2.24 percent to 343,000 won.
Top automaker Hyundai Motor added 1.01 percent to close at 179,300 won and leading defense equipment manufacturer Hanwha Aerospace rose 1.67 percent to end at 792,000 won.
Shipbuilders also enjoyed brisk trading. Industry leader HD Hyundai Heavy Industries gained 1.46 percent to end at 347,500 won, and Hanwha Ocean jumped 3.22 percent to 80,100 won.
The local currency was trading at 1,424.1 won against the U.S. dollar at 3:30 p.m., jumping 25.8 won from the previous session to reach its highest point since December 6, when it changed hands against the greenback at 1,419.2 won.
Bond prices, which move inversely to yields, rose. The yield on three-year Treasurys fell 0.3 basis point to 2.408 percent, and the return on the benchmark five-year government bonds dropped 0.1 basis point 2.509 percent.
–IANS
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