Infrastructure plan in the US makes Seoul advance another 0.26%

Seoul, Apr 5 (EFE) .- The Seoul Stock Exchange rose slightly today, with its main indicator gaining 0.26%, again influenced by the proposal to invest 2.25 trillion dollars in infrastructure in the US.

The selective South Korean Kospi gained 8.03 points on Monday to stand at 3,120.83 units, while the Kospi technology stock index fell by 0.03%, or 0.32 points, to close at 969.77 units.

Foreign investors and retailers were today net buyers, still encouraged by the mammoth plan to renovate and modernize the infrastructure of the world’s leading economy.

On the other hand, a good part of the operators chose to make cash today after the advances with which the Kospi closed last week when this US stimulus package was announced.

In turn, the volume of business was very restricted today given that both the Chinese stock markets and Wall Street rest today for the holiday.

Thus, the stock with the highest capitalization in the South Korean market, Samsung Electronics, gained 0.71% today, while the world’s second largest semiconductor manufacturer, SK hynix, climbed 1.42%.

LG Electronics fell 2.52% in today’s session, during which it announced that it will stop manufacturing mobile phones after running a deficit in that branch of business for the last five years.

In the biopharmaceutical sector, Samsung Biologics advanced 0.81%, while Celltrion fell 3.9%.

The operator of the main South Korean internet portal, Naver, fell 0.66%, while its rival Kakao closed 0.2% higher.

The main national car manufacturer, Hyundai Motor, advanced 0.61%.

(c) EFE Agency