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The Korea Herald
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THE INVESTOR
March 29, 2024

Stocks & Bonds

Seoul stocks end higher on institutional buying

  • PUBLISHED :February 21, 2018 - 16:17
  • UPDATED :February 21, 2018 - 16:18
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[THE INVESTOR] Korean stocks finished higher on Feb. 21, paring earlier losses, as institutional and individuals scooped up large-cap shares, analysts said. The Korean won fell against the US dollar.

The benchmark KOSPI added 14.53 points, or 0.6 percent, to close at 2,429.65. Trade volume was slim at 241 million shares worth 4.2 trillion won (US$3.80 billion), with gainers outnumbering losers 513 to 293.

“The local stock market closed mildly higher as uncertainties eased despite the Wall Street losses,” said Lee Young-kon, a Hana Financial Investment analyst, adding that the KOSPI moved within a set range with major sectors ending mixed.

Most tech shares ended mixed, with market bellwether Samsung Electronics losing 0.25 percent to continue a three-day losing streak at 2,364,000 won. SK hynix, a major chipmaker, meanwhile, added 1.85 percent to end at 76,900 won.

Leading bio firm Celltrion gained 1.15 percent to 307,500 won, and Samsung BioLogics, a biopharmaceutical affiliate of Samsung Group, was unchanged at 425,000 won.

Auto stocks were also mixed, with leading automaker Hyundai Motor adding 4.23 percent to 160,000 won and its sister company, Kia Motors, increasing 3.2 percent to 33,850 won. Auto parts maker Hyundai Mobis, meanwhile lost 0.22 percent to 222,500 won.

The local currency closed at 1,076.20 won against the US dollar, down 2.70 won from previous close.

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

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