Seoul shares rose on Tuesday as technology stocks like LG Display and Samsung Electronics were lifted by solid US holiday sales and foreign investors snapped an eight-session selling streak. A survey from the US National Retail Federation, an industry trade group, indicates that Americans said they spent $7.4 billion more from Thursday's Thanksgiving through Sunday this year, compared with the same period in 2010.
Institutions were buyers of a net 183.6 billion Korean won ($159.04 million) worth of stocks, picking up shares for a fourth straight session. Foreign investors purchased a net 378.9 billion won, snapping eight straight sessions of selling.
The Korea Composite Stock Price Index finished up 2.27 percent at 1,856.52 points. The KOSPI 200 index rose 2.5 percent, while the junior Kosdaqq market advanced 1.3 percent Technology stocks led gains as robust US Thanksgiving sales pointed to strong demand for electronics goods. LG Electronics, the world's No 3 handset maker and a household appliance giant, rose 4.2 percent. LG Display, the world's No 2 flat panel maker, jumped 6.1 percent. Samsung Electronics added 2.8 percent.
Comments
Comments are closed for this article.