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| ▲ Traders are seen working inside the dealing room in Woori Bank in central Seoul, while the closing benchmark Korea Composite Stock Price Index (KOSPI) is seen on a screen, on Jan. 29, 2026. (Yonhap) |
(LEAD) stocks-summary
(LEAD) Seoul stocks up for 3rd day to end at fresh high of above 5,200 on strong earnings reports
(ATTN: ADDS bond yields in bottom; CHANGES photo)
SEOUL, Jan. 29 (Yonhap) -- South Korean stocks closed at a fresh peak again Thursday, extending their winning streak to a third session, as investors digested a string of earnings results from major companies. The local currency fell against the greenback.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 50.44 points, or 0.98 percent, to close at 5,221.25.
Trade volume was heavy at 689.9 million shares worth 35.4 trillion won (US$24.8 billion). Winners outnumbered losers 577 to 286.
After opening higher, the KOSPI had briefly lost ground in the morning session as investors locked in profits in major tech firms, such as Samsung Electronics and SK hynix, following their record-breaking fourth quarter earnings.
But the index soon turned higher backed by strong buying pressure from retail investors, who net purchased 1.6 trillion won.
Institution and foreign investors, on the other hand, were net sellers, each offloading 1.5 trillion won and 150.2 billion won, respectively.
"We are seeing a sectoral rotation, with investors turning their eyes from major chipmakers to the non-semiconductor sector and then to the smaller KOSDAQ market," Lee Kyoung-min, an analyst at Daishin Securities, said.
The smaller KOSDAQ index has surged over 20 percent since Dec. 30, as investors turned to the secondary market to hunt bargains.
The government has vowed to support startups and early-stage businesses, while encourage public funds to actively invest in the KOSDAQ market.
Meanwhile, uncertainties surrounding the Federal Reserve's policy direction were also eased, Lee added, with the Fed delivering a widely expected decision of keeping the U.S. benchmark rate on hold.
In Seoul, most large cap shares closed higher.
Chip giant Samsung Electronics inched down 1.05 percent to 160,700 won, while its rival SK hynix added 2.38 percent to a historic high of 861,000 won.
Industry leader Hyundai Motor jumped 7.21 percent to 528,000 won, portal operator Naver closed up 3.42 percent to 287,000 won, while battery maker LG Energy Solution retreated 3.36 percent to 416,500 won.
Brokerages gathered ground, benefiting from the stock market's bull run.
Mirae Asset Securities vaulted 17.39 percent to 40,850 won and Korea Investment Holdings added 9.38 percent to 221,500 won.
The Korean won was quoted at 1,426.3 won against the U.S. dollar as of 3:30 p.m., down 3.8 won from the previous session's close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 3.9 basis points to 3.106 percent, and the return on the benchmark five-year government bonds added 3.8 basis points to 3.395 percent.
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