Seoul stocks continue rise for third straight session

Stocks advanced for the third straight session on Monday as investors weigh the $2.25 trillion infrastructure proposal in the United States. The won fell against the dollar.

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 3,120.83 points on Monday, up 8.03 points, or 0.26 percent from the previous trading day. [YONHAP]

Stocks advanced for the third straight session on Monday as investors weigh the $2.25 trillion infrastructure proposal in the United States. The won fell against the dollar.

After choppy trading, the Kospi rose 8.03 points, or 0.26 percent, to close at 3,120.83 points.

Trading volume was moderate at about 1.1 billion shares worth some 12.8 trillion won ($11.3 billion), with gainers outnumbering losers 511 to 343.

Foreign investors bought a net 169 billion won, while institutions sold 384 billion won. Retail investors purchased a net 207 billion won.

The Kospi advanced, backed by hopes for a global economic rebound from the massive U.S. stimulus spending plan.

"Local investors seem to have reduced part of their holdings to take profits from the last week's gains on the U.S. infrastructure investment plan," said Hana Financial Investment analyst Lee Young-gon.

"But they seemed to have refrained from big moves today, with stock exchanges closed in the U.S. and China for holiday," he said. Large caps closed mixed in Seoul.

Samsung Electronics added 0.71 percent to 85,400 won, and SK hynix advanced 1.42 percent to 143,000 won.

Hyundai Motor edged up 0.21 percent at 234,000 won, but Kia lost 1.27 percent to 85,500 won.

Naver shed 0.66 percent to 377,000 won, while Kakao gained 0.20 percent to 502,000 won.

Chemical firm LG Chem declined 1.33 percent to 817,000 won.

Samsung Biologics moved up 0.81 percent to 75,000 won, but Celltrion slumped 3.9 percent to 308,000 won.

Celltrion Healthcare lost 3.46 percent to 128,300 won and SK Bioscience gained 0.43 percent to 118,000 won.

Shipping company HMM added 2.5 percent to 28,750 won.

Netmarble gained 3.15 percent to 131,000 won, and Pearl Abyss lost 1.01 percent to 321,900 won. Kakao Games edged up 0.96 percent to 52,400 won.

The Kosdaq lost 0.32 points, or 0.03 percent to close at 969.77.

The local currency closed at 1,127.7 won against the U.S. dollar, up 0.2 won from the previous session's close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year bonds added 5.1 basis points to 1.202 percent, and the yield on the benchmark ten-year government bond added 4.4 basis points to 1.71 percent.

BY LEE TAE-HEE, YONHAP [lee.taehee2@joongang.co.kr]