SEOUL, December 22 (AJP) - South Korean stocks rallied on Monday, with the benchmark KOSPI reclaiming the 4,100 mark as Asian equity markets advanced broadly.
In Seoul, the KOSPI rose 2.1 percent to close at 4,105.93, while the tech-heavy KOSDAQ gained 1.5 percent to 929.14.
Foreign investors turned net buyers for the first time in six sessions, helping lift the main index. Institutional investors bought a net 1.6 trillion won ($1.1 billion) worth of shares, while foreigners purchased 1.1 trillion won on the main board.
Samsung Electronics climbed 4 percent to 110,500 won, and chipmaker SK hynix surged 6 percent to 580,000 won. LG Energy Solution, the third-largest company by market capitalization, rose 2.8 percent to 389,500 won. Investment holding company SK Square jumped 8.4 percent to 315,000 won.
Samsung Life Insurance advanced 3.4 percent to 160,300 won, while Korea Zinc gained 5.6 percent to 1,383,000 won. Among the top 10 blue chips, HD Hyundai Heavy Industries was the biggest decliner, falling 1.3 percent to 514,000 won.
Japanese shares also rose. The Nikkei 225 added 1.8 percent to 50,402.39.
Toyota Motor gained 0.9 percent to 3,455 yen, while Mitsubishi Corp rose 1.9 percent to 2,495 yen. SoftBank Group jumped 4.1 percent to 17,815 yen, and Hitachi climbed 1.9 percent to 5,004 yen. Sumitomo Mitsui Financial Group rose 0.9 percent to 5,064 yen.
Chip-related stocks outperformed, with Tokyo Electron, the ninth-largest company by market value, surging 6.3 percent to 33,170 yen, and Advantest, ranked tenth, gaining 4.5 percent to 20,050 yen. Sony Group, the third-largest by market capitalization, was the sole decliner among the top 10, falling 0.9 percent to 3,960 yen.
Market sentiment was shaped by the Bank of Japan’s decision on Friday to raise its key interest rate to 0.75 percent from 0.5 percent, marking another step away from the country’s long-standing ultra-loose monetary policy.
In China, the Shanghai Composite Index rose 0.7 percent to 3,917.36.
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