South Korean stocks continue their upward momentum for the 5th consecutive day following the release of robust US employment figures.

Seoul Stock Exchange Closes Higher on US Rate Cut Expectations

The Seoul Stock Exchange ended the trading day on a positive note, with the benchmark Korea Composite Stock Price Index (KOSPI) rising by 14.47 points or 0.45 percent, closing at 3,219.59.

Several major companies saw gains today. Samsung Electronics rose 0.86 percent to 70,100 won, while SK hynix climbed 1.28 percent to 277,000 won. In the airline sector, Korean Air dropped 0.42 percent to 23,550 won, but this was offset by gains in other sectors.

The search results do not provide specific information about which institution bought more stocks on Monday compared to the previous day in the Seoul Stock Exchange. However, it is worth noting that foreigners bought a net 230.37 billion won worth of shares, while institutions bought a net 77.68 billion won worth of shares. This suggests that foreign investors were particularly active in the market today.

The statement implies that the expectations of US rate cuts are due to the weaker-than-expected US jobs data, fueling demand for risky assets despite concerns over an economic slowdown. This boosted appetites for risky assets, leading to expectations of US rate cuts.

Trading volume was moderate at 366.37 million shares worth 8.15 trillion won ($5.9 billion). Retail investors offloaded a net 384.96 billion won worth of shares, while technology shares led the gains in Seoul.

Notable gains were seen in Hanwha Aerospace, which advanced 3.37 percent to 951,000 won, and Korea Electric Power Corp., which gained 2.31 percent to 37,600 won. On the other hand, HD Hyundai, Hyundai Motor, and Kia all saw losses, with Hyundai Motor falling 0.68 percent to 218,500 won, HD Hyundai shedding 0.97 percent to 143,300 won, and Kia slipping 1.59 percent to 104,900 won.

The Korean won was quoted at 1,390.60 won against the US dollar at 3:30 p.m., representing a slight rise against the US dollar. The won's performance reflects the overall positive sentiment in the market today.

In summary, the Seoul Stock Exchange closed higher today, with the KOSPI rising by 0.45 percent. The gains were led by technology shares, and foreign investors were particularly active in the market, buying a net 230.37 billion won worth of shares. The Korean won also rose slightly against the US dollar.