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Seoul Stocks Up for 8th Consecutive Session on Hopes for Vaccine, Economic Rebound

Seoul, South Korean stocks extended their gaining streak to an eighth session today, on hopes for COVID-19 vaccines and optimism for a quick economic rebound from the impacts of the new coronavirus pandemic, Yonhap reported.
The Korean won rose against the U.S. dollar. After choppy trading, the benchmark Korea Composite Stock Price Index (KOSPI) rose 13.68 points, or 0.57 percent, to close at 2,432.35. Trading volume was high at about 753 million shares worth some 16.4 trillion won (US$13.8 billion), with losers outnumbering gainers 446 to 415.
Foreigners sold a net 176 billion won, while retail investors purchased a net 356 billion won. Institutions offloaded a net 203 billion won.
The local stock market was bearish in the morning, as investors weighed profit-taking in the week-long rally. But it turned upward in the last 30 minutes before the session’s close, with investors betting that the index has room for further growth.

 

Source: Saudi Press Agency

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