An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)
South Korean stocks soared nearly 2 percent Tuesday on better-than-expected US industry data and Washington's export curbs targeting China having a limited impact on the market. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index added 45.62 points, or 1.86 percent, to close at 2,500.1.
Trade volume was moderate at 314.4 million shares worth 8.87 trillion won ($6.32 billion), with winners outpacing losers 733 to 163.
Foreigners bought a net 538.8 billion won, while individuals dumped a net 840 billion won. Institutions bought a net 284.1 billion won.
Overnight, the US unveiled an export control package, which includes restrictions on exports of high-bandwidth memory chips to China.
But local chipmakers are expected to be largely unaffected by the move given their small interest in the Chinese market.
Investors cheered the better-than-expected US manufacturing purchasing managers index (PMI) for November.
"All possible negative factors were significantly reflected for the moment," said Han Ji-young, a researcher at Kiwoom Securities Co. The analyst said the PMI data also signals better performance of exporters.
Top tech giant Samsung Electronics remained unchanged at 53,600 won, while No. 2 chipmaker SK hynix added 3.84 percent to 164,900 won.
Financial shares closed sharply higher, with KB Financial adding 4.98 percent to 101,200 won and Shinhan Financial climbing 4.64 percent to 56,400 won.
Korea Zinc shot up 9.28 percent to 1,542,000 won amid the company's management dispute.
Carmakers closed mixed, with Hyundai Motor falling 0.69 percent to 214,500 won while its sister Kia added 4.03 percent to 98,000 won.
The local currency was trading at 1,402.9 won against the greenback at 3:30 p.m., down 1.6 won from the previous session. (Yonhap)
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