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Seoul stocks end up on institutional buying

All News 15:53 December 11, 2017

SEOUL, Dec. 11 (Yonhap) -- South Korean stocks rose Monday as institutions scooped up local stocks, offsetting net selling by foreigners and individuals. The Korean won rose against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.49 points, or 0.30 percent, to close at 2,471.49. Trade volume was moderate at 237.57 million shares worth 4.536 trillion won (US$4.15 billion).

Institutional investors bought stocks worth 240 billion won, while foreigners and individuals sold a combined 266 billion won worth of stocks.

Large-cap stocks were mixed across the board.

Market bellwether Samsung Electronics Co. fell 0.42 percent to 2,589,000 won, while No. 2 chipmaker SK hynix Inc. ended flat at 78,700 won. Top carmaker Hyundai Motor Co. declined 5.36 percent to 150,000 won due to ongoing strikes at its main domestic plants.

Domestic plays ended higher to defend the main index. Cosmetics giant AmorePacific Corp. climbed 1.72 percent to 324,500 won, and dominant tobacco company KT&G Corp. was up 3.02 percent at 119,500 won.

The local currency closed at 1,092.30 won against the U.S. dollar, up 1.0 won from the previous session's close.


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