Stocks finish at a 52-week high led by tech gains

Screens in Hana Bank’s trading room in central Seoul show the Kospi closing at 2,667.07 points on Tuesday, up 1.31 percent, or 34.49 points, from the previous trading session. [YONHAP]

Stocks finished higher for a fourth consecutive day Tuesday to reach a 52-week high, led by strong tech stocks. The won fell against the dollar.

The benchmark Kospi advanced 1.3 percent, or 34.49 points, to 2,667.07. Trading volume was at 483.9 million shares worth 15.7 trillion won ($12.2 billion), with gainers outnumbering losers 626 to 257.

Foreign investors purchased a total of 193.9 billion won worth of shares, and institutions bought a combined 330.8 billion won worth of shares, offsetting retail investors’ sell-off of 550.5 billion won.

All major U.S. stock indexes finished higher Monday on upbeat corporate earnings and hopes for a soft landing for the U.S. economy.

In Seoul, most large-cap stocks ended in positive terrain to drive the Kospi up.

Samsung Electronics jumped 1.86 percent to 71,100 won, and SK hynix advanced 1.38 percent to 125,100 won.

LG Chem gained 1.08 percent to 655,000 won, and Samsung SDI grew 0.75 percent to 670,000 won.

Bio shares gained ground, with Samsung Biologics soaring 4.7 percent to 802,000 won and Celltrion rising 3 percent to 151,000 won.

IT stocks logged big increases on the back of U.S. tech gains.

Naver climbed 2.64 percent to 233,000 won, and Kakao spiked 7.02 percent to 54,900 won.

Kakao Bank shot up 14.04 percent to 29,650 won, and Kakao Pay surged 7.97 percent to 54,200 won.

Among decliners, LG Energy Solution lost 0.54 percent to 557,000 won, and SK Innovation sank 3.94 percent to 207,500 won.

Posco Holdings fell 3.27 percent to 621,000 won, and Posco Future M went down 3.42 percent to 509,000 won.

Posco International plunged 6.66 percent to 84,100 won after the Korea Exchange issued an investment caution for the stock.

The won closed at 1,283.80 won against the dollar, up 9.2 won from the previous session.

Bond prices, which move inversely to yields, closed mixed. The yield on three-year government bonds shed 3.4 basis points to 3.646 percent, and the yield on the benchmark 10-year government bonds advanced 0.5 basis points to 3.957 percent.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]

tradersville.net is not an investment advisor and is not registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory Authority. Further, owners, employees, agents or representatives of tradersville.net are not acting as investment advisors and might not be registered with the U.S. Securities and Exchange Commission or the Financial Industry Regulatory.

The sender of this email makes no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended in this email, and makes no representations or warranties concerning said company or entity’s compliance with applicable laws and regulations, including, but not limited to, regulations promulgated by the SEC or the CFTC. The sender of this email may receive a portion of the proceeds from the sale of any products or services offered by a company or entity mentioned or recommended in this email. The recipient of this email assumes responsibility for conducting its own due diligence on the aforementioned company or entity and assumes full responsibility, and releases the sender from liability, for any purchase or order made from any company or entity mentioned or recommended in this email.

The content on any of tradersville.net websites, products or communication is for educational purposes only. Nothing in its products, services, or communications shall be construed as a solicitation and/or recommendation to buy or sell a security. Trading stocks, options and other securities involves risk. The risk of loss in trading securities can be substantial. The risk involved with trading stocks, options and other securities is not suitable for all investors. Prior to buying or selling an option, an investor must evaluate his/her own personal financial situation and consider all relevant risk factors. See: Characteristics and Risks of Standardized Options.

The information presented in this site is not intended to be used as the sole basis of any investment decisions, nor should it be construed as advice designed to meet the investment needs of any particular investor. Nothing in our research constitutes legal, accounting or tax advice or individually tailored investment advice. Our research is prepared for general circulation and has been prepared without regard to the individual financial circumstances and objectives of persons who receive or obtain access to it. Our research is based on sources that we believe to be reliable. However, we do not make any representation or warranty, expressed or implied, as to the accuracy of our research, the completeness, or correctness or make any guarantee or other promise as to any results that may be obtained from using our research. To the maximum extent permitted by law, neither we, any of our affiliates, nor any other person, shall have any liability whatsoever to any person for any loss or expense, whether direct, indirect, consequential, incidental or otherwise, arising from or relating in any way to any use of or reliance on our research or the information contained therein. Some discussions contain forward looking statements which are based on current expectations and differences can be expected. All of our research, including the estimates, opinions and information contained therein, reflects our judgment as of the publication or other dissemination date of the research and is subject to change without notice. Further, we expressly disclaim any responsibility to update such research. Investing involves substantial risk. Past performance is not a guarantee of future results, and a loss of original capital may occur. No one receiving or accessing our research should make any investment decision without first consulting his or her own personal financial advisor and conducting his or her own research and due diligence, including carefully reviewing any applicable prospectuses, press releases, reports and other public filings of the issuer of any securities being considered. None of the information presented should be construed as an offer to sell or buy any particular security. As always, use your best judgment when investing.

Disclaimer: Past performance is no guarantee of future performance. This product is for educational purposes only. Practical application of the products herein are at your own risk and tradersville.net, its partners, representatives and employees assume no responsibility or liability for any use or mis-use of the product. Please contact your financial advisor for specific financial advice tailored to your personal circumstances. Any trades shown are hypothetical example and do not represent actual trades. Actual results may differ. Nothing here in constitutes a recommendation respecting the particular security illustrated.