South Korean stocks inched up; tech stocks led gains

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Source: Dukascopy Bank SA
South Korean shares ended Monday's session on the positive note despite lack of progress in the US fiscal talks weighting on riskier assets across the globe. However, upbeat US data and results of recent South Korean presidential elections capped losses of Korean equities. The Kospi 100 Index edged up 0.10% to finish at 1,988.39. However, only two in ten sectors within the index moved higher. The only gainers were technology and health care industries. Shares of Samsung Electronics and SK C&C moved higher by 2.22% and 0.98% while Yuhan Corp climbed 0.87%. Dragging South Korean blue chips index lower, utilities and telecommunications plunged 3.78% and 1.01%. Korea Electric Power and Korea Gas Corp slid 3.52% and 4.90%. Among telecommunications, KT Corp and SK Telecom Co sagged 1.30% and 0.93%.


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