SEOUL, July 20 (Xinhua) -- South Korean stocks kept a record- breaking trend for the sixth trading session Thursday on positive outlook for the second-quarter earnings results.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 11.90 points, or 0.49 percent, to settle at a new record high of 2,441.84. Trading volume stood at 246.84 million shares worth 5.3 trillion won (4.5 billion U.S. dollars).
The record-breaking momentum followed the better-than-expected earnings result from Samsung Electronics, which takes up about 20 percent of the total market capitalization.
Expectations were running high for the second-quarter earnings season. Major companies, comprising the KOSPI index, would announce their earnings from this week.
Foreign and institutional investors bought stocks worth 67 billion won and 38 billion won each, while individual investors sold a net 141 billion won worth of shares.
The KOSPI's upward momentum could be changed after the European Central Bank (ECB)'s monetary policy meeting and the actual announcement of the second-quarter earnings of South Korean companies, market watchers forecast.
Shares of Samsung Electronics advanced 0.9 percent to close at a new high of 2.56 million won. The state-run power supplier Korea Electric Power Corp. climbed 3.3 percent, and the biggest steelmaker POSCO added 3 percent.
The memory chip giant SK Hynix rose 0.4 percent, but the No.1 automaker Hyundai Motor lost 0.3 percent.
South Korea's currency finished at 1,125.5 won against the greenback, down 4.9 won from the previous close.
Bond prices ended higher. Yields on the liquid three-year treasury notes fell 0.7 basis points to 1.740 percent, and the return on the benchmark 10-year government bonds lost 2.1 basis points to 2.237 percent.
