Samsung, Hynix shares rally at close

Business | May 16, 2018 15:05
South Korea's stock market closed nearly flat today following the rising concerns over the inter-Korean relationship, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) edged up 1.28 points, or 0.05 percent, to 2,459.82. Trade volume was high at 685 million shares worth 9.73 trillion won (US$9.02 billion), with losers outpacing gainers 660 to 196.
Foreigners sold a net 4.9 billion won, with retail investors also offloading a net 174 billion won. Institutions were net buyers at 218 billion won.
Market kingpin Samsung Electronics closed 1.32 percent higher at 29,850 won, and No 2 chipmaker SK Hynix added 2.84 percent to 87,000 won. LG Electronics advanced 1.02 percent to 96,800 won.
Pharmaceutical shares also traded bullish, with Celltrion adding 0.19 percent to 268,500 won and Samsung BioLogics jumping 6.56 percent to 414,000 won.
Construction companies, on the other hand, closed weaker, with Hyundai Engineering & Construction falling 6.35 percent to 69,300 won and GS Engineering losing 5.53 percent to 44,450 won. Daelim Industrial shed 5.14 percent to 83,000 won.
No 1 steelmaker POSCO plunged 2.02 percent to 363,000 won, and Hyundai Steel moved down 5.83 percent to 63,000 won.

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