Seoul stocks trade higher on bargain hunting, strong exports
Nov 01, 2021
Seoul (South Korea), November 1: South Korean stocks traded higher late Monday morning, largely as investors seek to buy oversold stocks after the key index's three straight days of losses.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.69 points, or 0.36 percent, to 2,981.37 as of 11:20 a.m.
Stocks rose on institutional buying, led by bio and tech stocks.
South Korea's October exports jumped 24 percent on-year to the second-largest monthly figure, helped by brisk global demand for chips and petrochemical products.
Market bellwether Samsung Electronics Co. added 0.72 percent to 70,300 won, No. 2 chipmaker SK hynix Inc. jumped 3.4 percent to 106,500 won, and top automaker Hyundai Motor Co. advanced 0.24 percent to 208,500 won.
Pharmaceutical giant Samsung Biologics gained 1.03 percent to 880,000 won, and gaming heavyweight Krafton increased 3.09 percent to 484,000 won.
The local currency was trading at 1,176.3 won against the U.S. dollar, down 7.7 won from the previous session's close.
Source: Yonhap
