South Korean stocks finished a tad higher Monday as investors took a breather ahead of the release of the Fed minutes and the second-quarter earnings guidance of Samsung Electronics. The local currency fell against the US dollar on the first day of won-dollar transactions being extended until 2 a.m.
The benchmark Korea Composite Stock Price Index added 6.49 points, or 0.23 percent, to 2,804.31.
Trade volume was slim at 452.5 million shares worth 9.8 trillion won ($7.1 billion), with losers beating winners 494 to 379.
Institutions purchased a net 53.1 billion won worth of local shares, offset by a net selling of 64.7 billion won by foreign investors.
Last week, US stocks closed mixed after the US personal consumption expenditures price index for May met market expectations, raising hopes for a rate cut by the Federal Reserve.
But President Joe Biden's poor showing at his first debate fueled political uncertainties in the run-up to the 2024 presidential election.
In Seoul, experts said investors are awaiting the minutes of the Federal Reserve's June meeting slated for Wednesday and Samsung Electronics' earnings guidance slated for Friday.
Most shares finished mixed across the board.
Samsung Electronics, the world's largest memory chipmaker, advanced 0.37 percent to 81,800 won, while the world's No. 2, SK hynix, dropped 0.42 percent to 235,500 won.
Carmakers were weak as industry leader Hyundai Motor sank 3.05 percent to 286,000 won and its auto parts affiliate Hyundai Mobis declined 1.59 percent to 247,500 won.
Shares of SK Group went south after the group's reform plan over the weekend, with the holding company SK Corp. decreasing 0.95 percent to 156,800 won and SK Innovation, the key energy unit, losing 0.69 percent to 115,300 won.
But pharmaceuticals finished in positive territory as Samsung Biologics jumped 4.4 percent to 759,000 won, and Celltrion rose 5.62 percent to 184,100 won.
The local currency was trading at 1,379.3 won against the greenback as of 3:30 p.m., down 2.6 won from the previous session's close.
Starting Monday, South Korea's foreign exchange market for won-US dollar transactions will operate until 2 a.m. as part of the government's efforts to enhance investors' convenience and improve market access. (Yonhap)
