South Korean stocks ended slightly higher on Thursday to extend their winning streak to a third day as investors await more clues over the U.S. rate policy direction amid the Bank of Korea’s rate freeze. The local currency gained against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 6.54 points, or 0.24 percent, to close at 2,707.67.

Trade volume was moderate at 434 million shares worth 8.83 trillion won (US$6.61 billion), with losers outnumbering gainers 597 to 283.

Foreigners bought a net 64.5 billion won worth of shares, while individuals offloaded a net 111.3 billion won. Institutions bought a net 42.3 billion won.

Investors continued to take a wait-and-see approach after the Bank of Korea froze its key rate for the 13th straight session, waiting for Federal Reserve Chair Jerome Powell’s speech set to be delivered this week.

“The local stock market has faced significant pressure, driven by a mix of hopes and uncertainties,” said Kim Seok-hwan, an analyst at Mirae Ass
et Securities.

Top tech giant Samsung Electronics remained unchanged at 78,300 won, while No. 2 chipmaker SK hynix slid 0.78 percent to 191,100 won.

Battery maker LG Energy Solution, on the other hand, climbed 3.71 percent, and Samsung SDI rose 2.13 percent.

Online search engine giant Naver shot up 5.31 percent to 164,700 won, and its smaller rival Kakao rose 2.6 percent to 37,550 won.

Krafton, a game publisher, increased 1.91 percent to 346,000 won after the company unveiled new titles.

Leading carmaker Hyundai Motors moved down 1.78 percent to 248,000 won and its sister Kia lost 0.58 percent to 102,400 won. Auto parts maker Hyundai Mobis lost 0.45 percent to 219,000 won.

The local currency was trading at 1,334.7 won against the dollar as of 3:30 p.m., up 1.9 won from the previous session.

Source: Yonhap News Agency