S. Korean shares move higher on institutional buying

SEOUL, June 23 (Yonhap) -- South Korean shares edged higher late Friday morning on continued institutional buying. The won gained on the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.17 points, or 0.01 percent, to 2,370.54 as of 11:20 a.m.

Institutions purchased local stocks for a second straight session. They were net buyers of 30.24 billion won worth of stocks. Foreigners sold a net 58.65 billion won.

Large-cap stocks were mixed across the board.

Market bellwether Samsung Electronics fell 0.79 percent, and No. 2 chipmaker SK hynix declined 1.85 percent. Leading mobile carrier SK Telecom was down 2.09 percent.

Among gainers, top carmaker Hyundai Motor rose 1.86 percent, leading steelmaker POSCO gained 0.56 percent, and cosmetics giant AmorePacific was up 2.27 percent.

The local currency was trading at 1,140.60 won against the dollar, up 0.30 won from the previous session's close.

kyongae.choi@yna.co.kr
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