Korean stocks edged up Tuesday as losses by shipbuilders and automakers offset a rise in tech companies. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.01 percent, or 0.15 point, to close at 1,968.06. Trade volume was moderate at 590 million shares worth 5.41 trillion won ($4.61 billion), with losers outpacing gainers 467 to 342. The local stock market got off to a strong start following overnight gains on Wall Street, but earlier advances were pared down on sell-offs by foreign and institutional investors.
(Yonhap)
"This week, the local stock market will take a breather as foreign buying waned," said Koh Seung-hee, an analyst at Mirae Asset Daewoo Securities. "There are no clear leads out there in the market."
Institutions offloaded 52 billion won worth of shares, and foreign investors sold a net 54 billion won. Individuals purchased a net 84 billion won.
Large caps closed mixed, with market bellwether Samsung Electronics rising 1.28 percent to 1,246,000 won.
Top automaker Hyundai Motor advanced 0.74 percent to 134,500 won, and its smaller affiliate Kia Motors fell 0.86 percent to 46,100 won.
Auto parts giant Hyundai Mobis, also an affiliate of Hyundai Motor, rose 0.99 percent to 256,000 won.
LG Chem, the country's top chemicals maker, advanced 0.71 percent to end at 285,500 won, and POSCO, the No. 1 steelmaker, shed 2.4 percent to close at 202,500 won.
SK Innovation, the nation's top refiner, gained 1.29 percent to end at 156,500 won, and S-Oil, the No. 3 player, rose 2.94 percent to finish at 87,000 won.
The local currency closed at 1,173.70 won against the U.S. greenback, up 6 won from the previous session's close. (Yonhap)
