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South Korean stocks rise on Hyundai, shippers; won gains

South Korean stocks rise on Hyundai, shippers; won gains

South Korean shares rose Wednesday on gains in Hyundai Motor Co. and shipping companies. The won gained.
The Korea Composite Stock Price Index rose 11.06 points, or 0.7 percent, to 1,553.30, compared with Monday's close. Financial markets were closed Tuesday for a holiday.
Hyundai Motor, South Korea's largest automaker, rose 3.9 percent to 61,600 won on hopes of a better second-quarter earnings after its worse-than-expected first-quarter results released during afternoon trading.
Shipping stocks extended gains on heavy buying from foreign investors and a rosy industry outlook after South Korea concluded a free trade agreement with the United States
Hanjin Shipping Co. rose 2.4 percent to 41,900 won and Hyundai Merchant Marine Co. gained 2.5 percent to 30,500 won.
Top lender Kookmin Bank rose 0.6 percent to 84,000 won after it said Monday that first-quarter net profit beat market expectations.
In currency trading, the U.S. dollar closed at 930 won, down from 930.80 won Monday.


Updated : 2021-04-12 06:48 GMT+08:00