(Yonhap)
South Korean shares traded higher Tuesday on eased concerns related to the US-China trade dispute. The Korean won rose against the US dollar.
After a choppy session, the benchmark Korea Composite Stock Price Index (KOSPI) added 4.51 points, or 0.21 percent, to close at 2,131.24. Trading volume was high at about 906 million shares worth some 13.3 trillion won ($11 billion), with losers outnumbering gainers 586 to 262.
Foreigners sold a net 55.6 billion won, while retail investors purchased a net 355 billion won. Institutions offloaded a net 283 billion won.
The KOSPI got off to a strong start, led by large tech gains on Wall Street.
But the KOSPI trimmed earlier gains on market-jolting comments by White House trade adviser Peter Navarro, who said that the US-China trade negotiations are "over."
"Navarro's comments raised uncertainties and investor appetite to sell," Kiwoom Securities analyst Seo Sang-young said.
US President Donald Trump later tweeted that the bilateral trade deal was still "fully intact," easing investor concerns.
Navarro said his words were taken out of context.
In Seoul, most large caps closed mixed.
Market bellwether Samsung Electronics retreated 1.15 percent to 54,100 won, while No. 2 chipmaker SK hynix lost 0.94 percent to 84,100 won.
Top pharmaceutical firm Samsung BioLogics gained 1.13 percent to 802,000 won, with another bio firm, Celltrion, spiking 7.24 percent to 318,500 won. Leading chemical maker LG Chem shed 0.40 percent to 504,000 won.
Internet giant Naver advanced 2.22 percent to 276,000 won, while top automaker Hyundai Motor edged up 0.20 percent to 98,700 won.
The local currency closed at 1,208.80 won against the US dollar, up 7.0 won from the previous session's close.
Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys lost 1.9 basis points to 0.827 percent, and the return on the benchmark five-year government bond shed 1.5 basis points to 1.109 percent. (Yonhap)