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S. Korean shares turn higher in late morning trade

All News 11:28 April 20, 2017

SEOUL, April 20 (Yonhap) -- South Korean stocks turned higher late Wednesday as foreigners and institutions went bargain hunting. The won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 8.75 points, or 0.41 percent, to 2,147.15 as of 11:20 a.m.

Foreign and institutional investors bought a combined 114.84 billion won (US$100.56 million) worth of stocks, while individuals sold stocks valued at 108.99 billion won, keeping the KOSPI from rebounding further.

The KOSPI ended in negative territory Wednesday following gains in the two previous sessions as investor sentiment was relieved after the United States didn't designate South Korea as a currency manipulator.

Blue chip stocks led gains. Top carmaker Hyundai Motor jumped 3.28 percent, leading steelmaker POSCO rose 1.53 percent, and No. 1 cosmetics company AmorePacifc advanced 3.21 percent.

Among decliners were tech and refiner stocks. Market bellwether Samsung Electronics fell 1.47 percent, and leading refiner SK Innovation shed 0.92 percent.

The local currency was trading at 1,142.75 won against the U.S. dollar, down 2.55 won from the previous session's close.

kyongae.choi@yna.co.kr
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