Seoul shares up for 3rd day led by Samsung

South Korean stocks rose for three straight sessions Tuesday as the robust performance of top-cap Samsung Electronics offset losses from battery and auto shares. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.37 points, or 0.21 percent, to 2,617.8, extending its winning streak for the third consecutive session. Trade volume was slim at 335.2 million shares worth 9.1 trillion won (US$6.56 billion), with decliners beating gainers 441 to 408. Individuals and institutions bought a net 110.7 billion won and 12.8 billion won, respectively, while foreigners sold a net 134.4 billion won. The KOSPI started some 0.5 percent lower but trimmed the early losses as investors scooped up Samsung Electronics, which had experienced a sharp drop amid sluggish quarterly performance. Samsung Electronics, the top cap, rose 2.58 percent to 59,600 won, and LG Display gained 3.28 percent to 10,700 won. Defense firms were among the winners as Korea Aerospace Indu stries jumped 4.33 percent to 57,800 won and Hanwha Aerospace added 0.93 percent to 381,000 won. Korea Zinc surged 18.6 percent to 1.54 million won amid a lingering management battle between the zinc smelter and a coalition of its largest shareholder, Young Poong, and MBK Partners. But EV battery and auto shares finished in negative territory. Leading battery maker LG Energy Solution sank 1.8 percent to 409,000 won, and Samsung SDI fell 1.29 percent to 344,000 won. Top automaker Hyundai Motor declined 1.1 percent to 224,000 won and its sister Kia dipped 1.88 percent to 93,700 won. The Korean won was trading at 1,386.5 won against the greenback at 3:30 p.m., down 1.5 won from the previous session. Source: Yonhap News Agency