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THE INVESTOR
September 24, 2018
Big Reunion

Stocks & Bonds

Seoul stocks close higher on institutional buying

  • PUBLISHED :March 08, 2018 - 16:08
  • UPDATED :March 08, 2018 - 16:08
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[THE INVESTOR] Korean stocks closed higher on March 8 as institutional investors were net buyers of local stocks. The Korean won fell against the US dollar.

The benchmark KOSPI rose 31.26 points, or 1.3 percent, to close at 2,433.08. Trade volume was moderate at 390 million shares worth 8.87 trillion won (US$8.28 billion).

The local stock market opened higher as worries about protectionism ebbed.

Investor sentiment was also improved after China reported a 44.5 percent jump in February exports.

Seo Sang-young, an analyst at Kiwoom Securities, said local stocks are expected to gain in coming sessions on earnings expectations.

Samsung Electronics rose 1.19 percent to end at 2,460,000 won, and SK hynix, a global chipmaker, gained 0.97 percent to 83,500 won.

Naver, the operator of the country’s top internet portal, climbed 0.5 percent to 799,000 won.

Hyundai Motor rose 1.31 percent to 154,500 won, and its smaller affiliate Kia Motors gained 0.6 percent at 33,300 won.

The local currency closed at 1,072.20 won against the US dollar, down 1.10 won from the previous session’s close.

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