South Korean stocks closed higher Friday after the country’s economic data showed improvement in industrial output, private spending and facility investment.
The benchmark Korea Composite Stock Price Index climbed 14.26 points, or 0.56 percent, to 2,564.28. Trading volume was moderate at 498.9 million shares worth 8.04 trillion won ($6.1 billion) with gainers outstripping decliners 612 to 260.
South Korean news agency Yonhap reported that the index opened lower on losses of large-cap tech stocks and investors’ woes over expectations the U.S. Federal Reserve will push for additional rate hikes following strong economic data.
But market sentiment improved after data showed that South Korea’s industrial output rose 1.3 percent in May, with retail sales and facility investment gaining ground as well
Source: Qatar News Agency