South Korean stocks finished higher Wednesday as foreign investors snapped up shares like Samsung Life Insurance, while market leader Samsung Electronics lost ground on mixed views on Samsung Group’s plan to set up a holding firm. The South Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index finished at 2,014.67, up 2.87 points, or 0.14 percent, from Tuesday’s close. The trading volume was moderate at 234.72 million shares worth 3.81 trillion won ($3.8 billion) with gainers leading losers 492 to 328.

The market started lower in early morning trading but turned slightly higher in late morning on the back of foreign and institutional buying. After a bumpy ride, the market closed higher.

“There are two factors weighing down the market. One is the policy of overseas countries, including the EU, to release more money in the market. The other is Samsung Electronics,” said Kang Hyun-gie, an analyst at I’M Investment & Securities Co. “Investors are cautious about the background of overseas countries’ accommodative monetary policy.

“Mixed views on Samsung Group’s plan to set up a holding firm also are putting a burden on the market,” he said.

Samsung Electronics swung between positive and negative territory this week on investors’ prediction over Samsung Group’s restructuring plan. Some said the plan will cost too much; others predicted it will help the group.

The tech firm fell 0.97 percent to 1,422,000 won, leading the decline, along with SK hynix dropping 0.74 percent to 47,000 won.

Foreign buying pulled up Samsung Life Insurance, which advanced 1.92 percent to 106,000 won.

Korean Air, the largest local full-service carrier, fell 0.14 percent to 34,950 won on news that it plans to buy new shares to be floated by its cash-strapped affiliate Hanjin Shipping, which plans to issue new shares worth 400 billion won.

Hyundai Steel, the country’s second largest steelmaker, rose 1.83 percent to 72,300 won on a bright forecast of its second-quarter earnings.

LG Electronics gained ground to rise 0.13 percent to 78,200 won on news of brisk sales of its brand-new smartphone: the G3.

The South Korean won ended at 1,015.70 won to the greenback, up 1.50 won from Tuesday’s close as exporters unloaded their dollar holdings. (Yonhap)