Korean stocks edged up Monday as investors appeared to become cautious following improved U.S. indicators that might signal a U.S. rate hike. The local currency lost ground against the U.S. dollar.
The benchmark Korea Composite Stock Price Index added 0.05 percent or 0.92 point to close at 1,967.91. Trade volume was 510 million shares worth some 4.64 trillion won ($3.94 billion), with losers outpacing gainers 452 to 352.
Traders monitor share prices at a local bank. (Yonhap)
Investors apparently took a cautious approach, taking a cue from losses on Wall Street last week.
The Dow Jones industrial average lost 1.05 percent to close at 17,535.32 on Friday.
Retail sales in the U.S. grew 1.3 percent in April, the steepest rate of increase in over a year. The apparent indicator of improvement in the U.S. economy, however, renewed concerns over a U.S. rate hike.
Institutions offloaded 41.33 billion won worth of shares, while individuals purchased a net 12.1 billion won. Foreign investors were net buyers, purchasing 51.5 billion won of local shares.
Large caps closed mixed with market bellwether Samsung Electronics shedding 0.4 percent to 1,248,000 won. Top automaker Hyundai Motor advanced 0.37 percent to 135,500 won, but its smaller affiliate Kia Motors lost 1.06 percent to 46,500 won.
Auto parts giant Hyundai Mobis, also an affiliate of Hyundai Motor, plunged 1.93 percent to 253,500 won.
The local currency closed at 1,179.70 won against the U.S. greenback, down 8.3 won from the previous session’s close.
(khnews@heraldcorp.com)
