Seoul shares ended up 1.3 percent on Wednesday, lifted by automakers and technology issues including LG Electronics and Hyundai Motor. The Korea Composite Stock Price Index finished up 27.46 points at 2,166.63 points, snapping a four-session selling streak. KOSPI 200 June futures gained 3.65 points to 285.75 and the KOSPI 200 spot index rose 3.71 points to 286.30.
The junior Kosdaq market ended up 0.16 percent at 505.18 "The market is reflecting the solid gains that Wall Street posted over the holiday this week, with the bounce in crude oil prices lifting refiners," said Kim Seong-bong, a market analyst at Samsung Securities.
However gains were likely to be limited this week ahead of key domestic macroeconomic and market events, including the Bank of Korea's interest rate decision on Friday and options expiry, according to Bae Sung-young, a market analyst at Hyundai Securities. Foreign investors were buyers of a net 140.6 billion Korean won ($130.1 mln) worth of stocks, picking up shares for a second straight session.
LG Electronics shares trade at 1.4 times its book value compared to Taiwanese smartphone maker HTC's 7.2, according to Starmine data. LG Electronics shares have shed 12 percent in the past three months, while the benchmark KOSPI has gained 4.6 percent. Automakers rose after Toyota Motor Corp denied a report its output would return to pre-quake levels two or three months earlier than expected. Shares in Hyundai Motor rose 3.8 percent and Kia Motors rose 2 percent. Crude refiners were lifted by rise in oil prices, which generally translates into higher product prices and sales.
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