SEOUL – The South Korean stock market experienced a notable rise on Monday, with a 1.4 percent increase driven by gains in the financial and automotive sectors. This improvement follows last week's downturn and coincided with a decrease in tensions in the Middle East. The Korea Composite Stock Price Index (KOSPI) concluded the day at 2,629.44, up by 37.58 points.
According to Yonhap News Agency, an analyst at Daeshin Securities, the market is showing signs of stabilization after recent turbulence caused by concerns over U.S. monetary policy. The trading volume reached 389 million shares, totaling 10.85 trillion won (approximately US$7.86 billion). The day ended positively with 659 stocks advancing compared to 226 that declined.
Leading the gains, financial stocks performed exceptionally well, with KB Financial rising 9.11 percent to 69,500 won and Shinhan Financial climbing 6.11 percent to 44,300 won. The automotive sector also saw significant increases, with Hyundai Motor and Kia both advancing 4.26 percent to prices of 245,000 won and 115,100 won, respectively.
In the biotechnology sector, shares like Celltrion and Samsung Biologics saw robust gains, rising 3.35 percent to 178,700 won and 2.69 percent to 802,000 won, respectively. LG Energy Solution, a top battery maker, also increased by 3.13 percent to 378,500 won.
However, the technology sector faced some challenges as major companies like Samsung Electronics and SK hynix saw declines of 1.93 percent to 76,100 won and 0.98 percent to 171,600 won, respectively, following a plunge in Nvidia shares last week.
The South Korean won strengthened against the U.S. dollar, closing at 1,379.2 won, up by 3 won from the previous session. Meanwhile, bond prices fell, with yields on three-year Treasury bonds rising 4.4 basis points to 3.512 percent and five-year government bonds increasing 4.9 basis points to 3.585 percent.