Tech companies boost Seoul 0.26 percent

Seoul, Jun 10 (.) .- The Seoul Stock Exchange closed today with a rise of 0.26% in its main indicator, the Kospi, thanks to the advance of large technology, supported by purchases by foreign investors.

The selective South Korean Kospi gained 8.46 points on Thursday to stand at 3,224.64 units, while the Kosdaq technological index fell 0.92%, or 8.98 points, to 987.77 units.

The Kospi returned to positive territory today after two consecutive setbacks thanks to the appetite of foreign operators, who today netted about 710 billion won (about $ 636 million).

The day started cautiously, with the trading floor waiting for the US to publish the CPI for May today and thus obtain more clues about the pace of recovery.

However, the technology sector gained momentum and dragged much of the market after the local regulator preliminarily approved the entry of Kakao, owner of the main South Korean instant messaging service, into the insurance sector.

Even so, Kospi’s highest-cap stock, tech Samsung Electronics, ended the day down 0.12%, although the world’s second-largest memory chip maker, SK hynix, grew 0.41%.

The operator of the largest South Korean internet portal, Naver, increased its value by 4.18%, and Kakao climbed 3.49%.

In the biopharmaceutical sector, Samsung Biologics advanced 2.52% and its competitor, Celltrion, improved 1.53%.

The largest national car manufacturer, Hyundai Motor, fell by 1.46%.

(c) . Agency

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