South Korean stocks ended slightly higher Monday on the back of autos and batteries following stronger-than-expected U.S. jobs data. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index gained 3.44 points, or 0.13 percent, to 2,717.65.

Trade volume was moderate at 611.2 million shares worth 10.36 trillion won (US$7.6 billion), with decliners outpacing gainers 590 to 277.

Foreigners bought 207.6 billion won worth of local shares, while retail investors and institutions unloaded stocks worth 93 billion won and 112.8 billion won, respectively.

Data released Friday (U.S. time) showed that the world’s largest economy posted the biggest job growth in almost a year in March, indicating a strong economy.

Even though the strong labor market may mean U.S. interest rates may stay elevated for longer, Wall Street closed higher on the belief the U.S economy will continue to be resilient.

Investors’ eyes are now on the U.S. inflation data set to be released later this week, wh
ich will give further clues to when the Federal Reserve will start cutting its rates.

In Seoul, auto and bio shares led the increase.

Market bellwether Samsung Electronics was flat at 84,500 won, while No. 2 chipmaker SK hynix retreated 0.88 percent to 181,200 won.

Auto and bio shares closed in positive territory.

Top carmaker Hyundai Motor advanced 2.1 percent to 232,500 won, and its smaller affiliate Kia soared 3.33 percent to 108,500 won.

Bio giant Samsung Biologics gained 0.25 percent to 815,000 won, and Celltrion shot up 6.2 percent to 188,500 won.

Financial shares also gained ground, with KB Financial Group up 0.29 percent to 69,300 won, Shinhan Financial Group up 0.68 percent to 44,400 won, and Hana Financial Group up 2.42 percent to 59,200 won.

But battery shares were mixed.

Leading battery maker LG Energy Solution dropped 0.8 percent to 373,000 won, and Samsung SDI dipped 0.12 percent to 420,000 won, while POSCO Future M jumped 5.43 percent to 281,500 won.

The local currency closed at 1,353.
20 won against the dollar, down 0.40 won from the previous session’s close.

Bond prices, which move inversely to yields, decreased. The yield on three-year Treasurys rose 5.4 basis points to 3.383 percent, and the return on the benchmark five-year government bonds gained 5.5 basis points to 3.423 percent.

Source: Yonhap News Agency