Stocks edge higher Tuesday on tech gains

Stocks closed higher for a second day Tuesday tracking overnight Wall Street gains. The won gained ground against the dollar. The Kospi added 6.94 points, or 0.28 percent, to close at 2,515.74.

Screens in Hana Bank's trading room in central Seoul show the Kospi closing at 2,515.74 points on Tuesday, down 0.28 percent, or 6.94 points, from the previous trading session. [YONHAP]

Stocks closed higher for a second day Tuesday tracking overnight Wall Street gains. The won gained ground against the dollar.

The Kospi added 6.94 points, or 0.28 percent, to close at 2,515.74. The main bourse got off to a strong start, boosted by tech gains, but it turned in earlier gains throughout the session.

Trading volume was slim at 462.1 million shares worth 9.05 trillion won ($6.77 billion), with losers outnumbering gainers 498 to 373.

Foreign investors and institutions bought a net combined 46.92 billion won worth of shares, while retail investors sold a net 49.42 billion won worth of shares.

Overnight, the tech-heavy Nasdaq Composite rallied 1.56 percent, with U.S. chipmaker Nvidia rising 8.3 percent and Tesla jumping 7.33 percent on rosy earnings and growth prospects.

Investors now look toward the annual Jackson Hole symposium later this week for hints on the direction of global interest rates.

In Seoul, most large-cap stocks closed higher.

Samsung Electronics remained flat at 66,600 won, while SK hynix advanced 0.09 percent to 116,500 won.

LG Energy Solution jumped 2.47 percent to 539,000 won, Samsung SDI increased 1.36 percent to 598,000 won and LG Chem rose 0.88 percent to 573,000 won.

Posco Holdings grew 1.63 percent to 560,000 won and Posco Future M soared 2.83 percent to 438,000 won.

Naver surged 3.03 percent to 221,000 won and Kakao advanced 0.52 percent to 48,650 won.

Carmakers also rose, with Hyundai Motor climbing 0.97 percent to 187,900 won and Kia going up 0.9 percent to 78,800 won.

Among the decliners, Samsung Biologics shed 0.64 percent to 773,000 won and Celltrion lost 1.17 percent to 143,400 won.

Amore Pacific fell 1.08 percent to 118,700 won and LG Household & Health Care sank 2.14 percent to 435,000 won.

The local currency closed at 1,335.5 won against the dollar, down 7.1 won from the previous session's close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year government bonds increased 0.4 basis points to 3.8 percent, and the yield on the benchmark 10-year government bonds jumped 8.3 basis points to 4.3 percent.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]