Seoul, July 14 South Korean stocks surpassed the 3,200-point line for the first time in nearly four years on Monday on hopes for stimulus packages, including cash handouts, amid US President Donald Trump's renewed tariff threats. The local currency fell against the US dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 26.26 points, or 0.83 percent, to close at 3,202.03. It is the highest closing since Sept. 6, 2021, when the index ended at 3,203.33, reports Yonhap news agency.
Trade volume was moderate at 439.6 million shares worth 11.4 trillion won ($8.25 billion), with gainers beating decliners 528 to 361.
Foreigners scooped up a net 348.3 billion won worth of shares, while institutions dumped a net 94.8 billion won and individual investors sold a net 334.9 billion won.
On Saturday (U.S. time), Trump said he has sent letters to key trade partners, including the European Union and Mexico, threatening duties of 30 percent on imports and setting the negotiations deadline as Aug. 1.
Despite the renewed threat, analysts noted that investors will wait until Aug. 1 to see the results of the negotiations.
Shares of consumer goods and retailers led the rally ahead of the planned distribution of the government-led cash handouts.
Major retailers Lotte Shopping and Shinsegae rose 3.07 percent to 80,500 won and 6.57 percent to 197,800 won, respectively.
Leading beauty brand AmorePacific went up 5.12 percent to 139,600 won, and LG H&H increased 2.88 percent to 339,000 won.
Top carmaker Hyundai Motor rose 4.33 percent to 217,000 won, and its sister Kia advanced 2.18 percent to 103,000 won.
Leading non-life insurer Samsung Fire & Marine Insurance soared 9.51 percent to 518,000 won, and Hyundai Marine & Fire Insurance vaulted 6.7 percent to 30,250 won.
Chip giant SK hynix, the second-biggest share in terms of market value, rose 1.87 percent to a record 300,000 won, driven by U.S. tech behemoth Nvidia's recent rally.
However, leading biotech firm Samsung dropped 1.42 percent to 1,042,000 won, and Celltrion declined 0.9 percent to 177,000 won. Tech giant Samsung Electronics retreated 0.16 percent to 62,500 won.
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