April 20, 2024

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[THE INVESTOR] Korean stocks closed slightly higher on Aug. 17 on the latest news reports that the United States and China will resume trade talks later this month, analysts said. The local currency gained ground against the US greenback.

The benchmark KOSPI climbed 6.25 points, or 0.28 percent, to close at 2,247,05. It turned around from a 0.8 percent drop in the previous day when the KOSPI hit the lowest level in 15 months since May 2 last year.

Trading volume was light at 231.9 million shares worth 4.48 trillion won (US$3.98 billion), with winners outnumbering losers 555 to 268.

Foreigners turned to net buyers to scoop up a net 104.2 billion won worth of local shares, while institutions dumped 256.3 billion won worth of shares more than they bought.

The Korean currency closed at 1,124.90 won against the US dollar, up 5.20 won from the previous trading session.

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