The Kospi rises 0.51% to a new record due to recovery expectations

SEOUL, Jun 25 (.) .- The main index of the Seoul stock market, the Kospi, rose 0.51% this Friday to a new record, after the agreement in the United States on a new and large stimulus package that they expect that accelerates the economic recovery.

The Kospi advanced 16.74 points, to stand at 3,302.84 integers, in a session in which 18.4 trillion won (13,660 million euros) were moved.

In contrast, the Kosdaq technology stock index fell 0.05% or 0.49 points, to 1,012.13 units.

The South Korean stock market opened higher, in line with the rest of the stock markets in Asia, after the agreement in the United States Senate to implement an infrastructure plan valued at 1.2 trillion dollars (one trillion euros), which fueled expectations of an acceleration of the recovery in the country.

The main Seoul stock expanded gains during the day and closed for the first time above the psychological barrier of 3,300 integers, driven mainly by the good performance in the financial and technology sectors.

The technological Samsung Electronics, a reference value in the local market, rose 0.49% and the second largest chip manufacturer in the country, SK hynix, advanced 1.98%.

South Korea’s main internet provider, Naver, fell 2.26% and rival Kakao fell 1.59%.

Pharmaceutical Samsung Biologics also lost 0.7%.

Shares of the largest South Korean carmaker Hyundai Motor rose 0.21% and those of chemical firm LG Chem 0.84%.

The local currency, the won, gained 7.20 against the US dollar, which was trading at 1,127.70 won at the close of the session.

(c) . Agency

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