The Seoul Stock Exchange advanced today as heavy tech heavyweight rises such as Samsung Electronics countered declines in China-exposed stocks as a result of Beijing's retaliation for the deployment of the THAAD anti-missile shield.
The Kospi indicator of the South Korean market closed with a rise of 2.61 points, 0.13 percent, to stand at 2,081.36 points in a session in which they moved about 3,940 million dollars, while the index of Technology values Kosdaq gained 3.32 points, 0.55 percent, to 604.05 units.
Seoul opened red in the face of the imminent rise in rates in the United States and the hardening of reprisals by the Chinese government against Kospi companies for the deployment in South Korea of an anti-missile shield to which Beijing opposes.
China believes that the High Altitude Terminal Defense System (THAAD), designed to intercept projectiles launched by North Korea, could serve to spy on its defense systems
However, the upswing of Samsung Electronics, benchmark local market, and chip maker SK Hynix turned the South Korean selective course.
The technology giant closed at a new record level after a rise of 1.16 percent while the semiconductor maker appreciated a significant 4.78 percent on expectations that its next results will be better than expected
The technology giant closed at a new record level after a rise of 1.16 percent while the semiconductor maker appreciated an important 4.78 percent on expectations that its next results will be better than expected.
Meanwhile, the nation's largest vehicle maker, Hyundai Motor, rose 2.11 percent, while its subsidiary Kia Motors gained 0.14 percent.
Other heavyweights, such as POSCO (which rose 0.35 percent), also boosted the local market. Securities linked to China, such as Lotte Shopping or Shinsegae retailers, continued to fall today due to the boycott of the THAAD.
Lotte, which announced today that five of its Chinese supermarkets have been temporarily closed for allegedly violating fire regulations, lost 0.47 percent.
Shinsegae, which like Lotte depends heavily on purchases of Chinese tourists on its South Korean surfaces, yielded today 1.63 percent.
Shinsegae, which like Lotte relied heavily on buying Chinese tourists on its South Korean surfaces, yielded 1.63 percent today.
Last week the Chinese government is one of the travel agencies without selling packages to visit the neighboring country, the move that also hit stocks like cosmetics manufacturer Amore Pacific, which on Friday plummeted more than 14 percent and Today was Recouped with a buyback increase of 3.38 percent
Hanjin, which filed for bankruptcy in February, closed today with a 68.42 percent drop on its last trading day before being withdrawn from the Seoul Stock Exchange.
The local currency, the won, lost 1.9 units against the dollar, which was traded at 1,158 won at the end of the session.
