SEOUL: South Korean shares climbed on Wednesday, tracking overnight gains on Wall Street amid expectations that US President Donald Trump may soon announce a Federal Reserve chair who favours lower interest rates.
The benchmark KOSPI closed up 41.37 points, or 1.04 percent, at 4,036.30.
Among index heavyweights, chipmaker Samsung Electronics rose 1.06 percent, while peer SK Hynix lost 1.08 percent. Battery maker LG Energy Solution climbed 0.72 percent.
Hyundai Motor and sister automaker Kia Corp were up 0.19 percent and up 1.37 percent, respectively. Steelmaker POSCO Holdings shed 0.16 percent, while drugmaker Samsung BioLogics was flat.
On Tuesday, Trump said a potential Federal Reserve chair was present as he introduced White House economic advisor Kevin Hassett at a White House meeting.
South Korea’s economy expanded by 1.3 percent in the third quarter, revised central bank data showed on Wednesday, faster than the bank’s earlier estimate of 1.2 percent.
Of the total 927 traded issues, 656 shares advanced, while 228 declined.
Foreigners were net buyers of shares worth 159.0 billion won.
The won was quoted at 1,467.7 per dollar on the onshore settlement platform, 0.05 percent stronger than its previous close at 1,468.5.
In offshore trading, the won was quoted at 1,467.8 per dollar, up 0.0 percent on the day, while in non-deliverable forward trading, its one-month contract was quoted at 1,465.3.
The KOSPI has risen 68.21 percent so far this year.
The won has strengthened 0.3 percent against the dollar so far this year.
In money and debt markets, December futures on three-year treasury bonds lost 0.09 point to 105.39.
The most liquid three-year Korean treasury bond yield rose by 1.8 basis points to 3.043 percent, while the benchmark 10-year yield rose by 2.3 basis points to 3.373 percent.
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