KOSPI and KOSDAQ indices are displayed on a screen inside the dealing room of Hana Bank in central Seoul, Tuesday. Korea Times photo by Shim Hyun-chul
Seoul stocks closed at a new record high Tuesday, boosted by anticipation over the earnings releases of major U.S. tech companies. The Korean won fell against the greenback.
The benchmark Korea Composite Stock Price Index (KOSPI) closed up 25.99 point, or 0.39 percent, to 6,641.02.
The index once topped the 6,700-point mark, rising as high as 6,712.73 at one point, but trimmed earlier gains, as investors sat on the sidelines ahead of the earnings releases of the Magnificent 7, or M7, companies, due this week.
"The local market experienced a sectoral rotation, while semiconductors took a breather," said Lee Kyoung-min, an analyst at Daishin Securities.
On the Middle East front, peace talks between the United States and Iran still remain at a standstill.
But investors appear to remain resilient toward such noises between the U.S. and Iran, Lee said, as they are becoming less sensitive to developments in the Middle East, while risk appetite is running high.
Source: Korea Times News
