Stocks show slight rebound after two days of loss

Stocks rebounded Thursday after a two-day loss as investors bought oversold stocks. The won fell against the dollar.

A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 3,068.82 points on Thursday, up 8.55 points, or 0.28 percent, from the previous trading day. [NEWS1]

Stocks rebounded Thursday after a two-day loss as investors bought oversold stocks. The won fell against the dollar.

The benchmark Kospi rose 8.55 points, or 0.28 percent, to close at 3,068.82 points.

Trading volume was moderate at about 867 million shares worth some 14.5 trillion won ($12.2 billion), with gainers outnumbering losers 542 to 316.

Foreigners bought a net 35 billion won, while institutions sold 225 billion won. Retail investors purchased a net 169 billion won.

The main stock index got off to a muted start amid lingering inflation uncertainties that stemmed from higher U.S. government bond yields.

Stocks traded choppy in the morning after mixed closings in the stock indexes.

"Foreign investors scooped up tech and electronic shares, driving up the Kospi," said Daeshin Securities analyst Lee Kyung-min.

Samsung Electronics closed unchanged at 74,100 percent, with chipmaker SK hynix jumping 3 percent to 103,000 won.

Internet portal operator Naver inched up 0.26 percent to 388,000 won, and Kakao added 1.29 percent to 118,000 won.

Kakao Bank fell 1.3 percent to 68,400 won.

Chemical firm LG Chem gained 1.17 percent to 776,000 won, and steelmaker Posco remained unchanged at 330,000 won.

Pharmaceutical firm Samsung Biologics closed flat at 874,000 won, and Celltrion fell 0.57 percent to 259,500 won.

Automaker Hyundai Motor decreased 0.74 percent to 200,000 won, and its sister company Kia dropped 0.25 percent to 81,200 won.

Rechargeable battery maker Samsung SDI added 1.27 percent to 718,000 won, and SK Innovation lost 0.19 percent to 265,000 won.

Online game publisher NCSoft jumped 5.05 percent to 603,000 won, and its rival Netmarble rose 3.06 percent to 118,000 won.

The Kosdaq gained 1.81 points, or 0.18 percent, to close at 1,003.27.

The local currency closed at 1,184 won against the dollar, up 2.2 won from the previous session's close.

Bond prices, which move inversely to yields, closed higher. The yield on three-year government bonds lost 1.5 basis point to 1.594 percent, and the yield on the benchmark 10-year government bond lost 0.2 basis point to 1.51 percent.

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