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| ▲ This photo shows a dealing room at Hana Bank in central Seoul on Oct. 7, 2024. (Yonhap) |
(LEAD) stocks-summary
(LEAD) Seoul shares rise over 1.5 pct on U.S. jobs data; won sharply down
(ATTN: ADDS bond yields at bottom)
SEOUL, Oct. 7 (Yonhap) -- Seoul stocks finished over 1.5 percent higher Monday, bolstered by U.S. employment data, and modest gains in chip and battery shares. The local currency sharply fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index moved up 1.58 percent, or 40.67 points, to 2,610.38.
Trading volume was moderate at 336 million shares worth 10.2 trillion won (US$7.57 billion), with gainers outpacing losers at 618 to 259.
Institutions and foreign investors together bought a net 98 billion won, while retail investors dumped a net 129.8 billion won.
Kim Ji-won, an analyst at KB Securities, said, "The latest U.S. employment data eased concerns over a slump in the U.S. economy, which also have acted in favor of the local stock market."
On Friday, the U.S. Labor Department reported that nonfarm payrolls increased by 254,000 in September, substantially higher than market expectations of around 147,000, boosting Wall Street shares in Friday's session.
In Seoul, chip shares enjoyed strong gains ahead of market heavyweight Samsung Electronics' quarterly earnings announcement, set for Tuesday.
Top cap Samsung rose 0.66 percent to 61,000 won, and chip rival SK hynix surged 6.2 percent.
Battery manufacturers also advanced, backed by hopes of demand amid Tesla's expected reveal of its long-awaited robotaxi project.
Industry leader LG Energy Solution jumped 4.09 percent to 420,000 won, and Samsung SDI added 1.66 percent to end at 367,500 won.
Financial firms and automakers also gained traction, with KB Financial climbing 5.69 percent to 87,300 won and Hyundai Motor moving up 3.13 percent to 247,000 won.
Defense-related shares also gained ground following renewed geopolitical tensions in the Middle East. Defense equipment maker Hanwha Aerospace jumped 4.15 percent to 351,500 won.
The local currency was trading at 1,346.7 won against the U.S. dollar at 3:30 p.m., down 13 won from the previous session.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 13.6 basis points to 2.960 percent, and the return on the benchmark five-year government bonds climbed 11.9 basis points to 3.018 percent.
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