Seoul gains 0.33% thanks to recovery expectations

Seoul, Apr 7 (EFE) .- The Seoul Stock Exchange rose today for the fifth consecutive day, with its main indicator gaining 0.33%, thanks to the improved prospects for global recovery.

The selective South Korean Kospi gained 10.33 points on Wednesday to stand at 3,127.08 units, while the Kosdaq technology stock index fell 0.47%, or 4.59 points, to close at 973.22 units.

For the fifth session the Kospi rose and for the fifth session foreign investors were net buyers, encouraged by the improvement in the growth outlook of the International Monetary Fund (IMF), which estimates that the global economy will grow this year by 6% instead of the 5.5% previously forecast.

However, the benchmark cut part of its earnings in the second tranche after South Korea today reported its highest daily number of COVID-19 infections since January, with 653 new local cases and 15 imported.

In this way, the main values ​​of the South Korean parquet today reaped mixed closures.

The chip with the greatest weight in the selective, Samsung Electronics, fell 0.47% today, while the second largest semiconductor manufacturer in the world, SK hynix, rose by 0.35%.

In the biopharmaceutical sector, Samsung Biologics advanced 1.46% and the giant Celltrion climbed 0.82%.

For its part, the operator of the main South Korean internet portal, Naver, fell 1.03%, while its rival Kakao fell 0.37%.

The main national car manufacturer, Hyundai Motor, closed in a draw.

(c) EFE Agency