S.Korean stocks keep winning streak for 3 days

Source: Xinhua| 2020-11-20 15:51:27|Editor: huaxia

SEOUL, Nov. 20 (Xinhua) -- South Korean stocks managed to end higher Friday, keeping a winning streak for three straight sessions as foreigners remained net buyers in the local stock market for 12 trading days running.

The benchmark Korea Composite Stock Price Index (KOSPI) added 6.08 points, or 0.24 percent, to settle at 2,553.50. Trading volume stood at 1.12 billion shares worth 12.1 trillion won (10.9 billion U.S. dollars).

It marked the highest close this year as foreign investors continued to purchase domestic stocks for 12 trading days in a row.

Hope mounted for COVID-19 vaccine candidates as some of drugmakers recently announced their clinical-trial data.

The KOSPI's gain was restricted amid lingering worry about the COVID-19 pandemic at home and abroad.

The COVID-19 resurgence continued in Europe and the United States, while the daily number of domestic confirmed cases hovered above 300 for the third consecutive day.

The South Korean government raised its social-distancing rules by one notch from the lowest level earlier this week, boosting worry about the negative effect on the services industry, especially microbusiness owners.

Large-cap shares ended mixed. Market bellwether Samsung Electronics rose 0.2 percent, and leading chemical firm LG Chem added 0.4 percent. The most-used search engine Naver gained 0.2 percent, and biopharmaceutical giant Celltrion went up 0.9 percent.

Memory chip behemoth SK hynix dipped 1.4 percent, and Samsung BioLogics, a biopharmaceutical unit of Samsung Group, retreated 1.1 percent. Rechargeable battery maker Samsung SDI slipped 0.6 percent.

The small-cap KOSDAQ picked up 10.24 points, or 1.19 percent, to close at 870.18.

The local currency finished at 1,114.3 won versus the greenback, up 1.3 won from the prior close. The South Korean currency appreciated amid the weak dollar trend.

Bond prices ended mixed. Yields on the liquid three-year treasury notes rose 0.8 basis points to 0.963 percent, but the return on the 10-year government bonds fell 0.1 basis points to 1.607 percent. Enditem