April 27, 2024

• 

[THE INVESTOR] Korean shares ended higher on Jan. 24 as institutions remained net buyers. The won remained flat against the US dollar.

The benchmark KOSPI rose 1.40 points, or 0.06 percent, to 2,538.00.

Institutional investors bought a net 244.17 billion won (US$228 million) worth of stocks, keeping the main index from ending in negative territory. Foreigners turned net sellers of local stocks and individuals continued to sell shares.

Tech, steel and airline stocks led gains, with market bellwether Samsung Electronics rising 0.37 percent to 2,467,000 won and No. 2 chipmaker SK hynix gaining 1.54 percent to 72,400 won.

Leading steelmaker POSCO advanced 1.84 percent to 156,500 won ahead of its 2017 earnings releases after the market close. Its full-year net profit nearly tripled to 2.974 trillion won from 1.048 trillion won a year earlier. National flag carrier Korean Air Lines jumped 3.98 percent to 37,850 won.

Among decliners, top carmaker Hyundai Motor fell 2.80 percent to 156,500 won, and leading cosmetics maker Amorepacific declined 2.40 percent to 305,500 won.

The local currency ended unchanged at 1,070.20 won against the US dollar compared to the previous session‘s close.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)