S.Korean shares log record close, mark biggest monthly gain since 2001 on trade optimism

South Korean shares finished at a record high on Friday, and logged the biggest monthly rise since January 2001, boosted by progress in U.S. trade talks and a visit by Chinese President Xi Jinping.
The won strengthened, while the benchmark bond yield rose.
The benchmark KOSPI rose 20.61 points, or 0.50%, to 4,107.50, a record closing high. The index has gained 19.94% in October, and 4.4% for the week, logging a fifth weekly gain.
Among index heavyweights, chipmaker Samsung Electronics gained 3.27%, while peer SK Hynix lost 1.58%. Battery maker LG Energy Solution slid 2.77%.
Hyundai Motor and sister automaker Kia added 9.43% and 3.18%, respectively. Steelmaker POSCO Holdings shed 2.82%.
U.S. President Donald Trump's trade pact with South Korea could deal a major blow to the won when cash starts flowing out of the country to cover investment commitments in the U.S., though the deal will likely be a boon for the Kospi.
China's Xi will take centre stage at an annual gathering of Pacific Rim leaders in South Korea, holding talks with his Canadian and Japanese counterparts after securing a fragile trade truce with Trump.
South Korean President Lee Jae Myung said the Asia-Pacific region was at a critical inflection point with a rapidly changing global economic order, as he chaired a leaders' summit in the city of Gyeongju.
Of the total 927 traded issues, 319 shares advanced and 560 declined.
The won was quoted at 1,424.4 per dollar on the onshore settlement platform, 0.74% higher than Thursday's close of 1,435.0.
The KOSPI has risen 71.18% year-to-date.
The most liquid three-year Korean treasury bond yield (KR3YT=RR) fell 2.8 basis points to 2.708%, while the benchmark 10-year yield rose 1.1 basis points to 3.053%.

Sumber : Reuters