By Kang Seung-woo
Staff reporter
Banking and securities stocks gained steam on the stock market thanks to eased concerns over the eurozone crisis and increasing investment confidence.
Shinhan Financial Group climbed 4.82 percent, while KB Financial Holding Company's shares rose 4.73 percent, Thursday.
Woori Finance, Korea Exchange Bank (KEB), Industrial Bank of Korea (IBK) and Haha Finance also joined climbers, marking advances of 2.04 percent to 4.71 percent.
Other gainers were Hanwha Securities at 5.28 percent; Woori Investment and Securities, 4.70 percent; Daewoo Securities. 3.24 percent; Tongyang Securities, 3.39 percent; Kiwoom Securities, 3.42 percent and Samsung Securities, 3.33 percent.
The rise of the finance-related stocks was related to Wednesday's Wall Street rally.
The Dow Jones Industrial Average notched its biggest one-day growth since May 27, surging 274.66 points, or 2.8 percent, to 10,018.28, thanks to a robust profit forecast from several companies and optimism about the easing European debt crisis.
In addition, financial stocks rebounded from a slide..
"The rally of banking stocks is attributed to external conditions, such as the rise of the U.S. stock market and optimism about European bank stress tests," said Shim Kyu-sun, an analyst at HI Investment & Securities.
As a result, the banking and securities stocks gained an average 2.86 percent and 2.74 percent, respectively, as the benchmark KOSPI ended up 22.99 points, or 1.37 percent, at 1,698.64 points.