[THE INVESTOR] Korean shares closed higher on Aug. 29 as investors continued to scoop up undervalued shares, analysts said. The Korean won closed lower against the US dollar.
The benchmark KOSPI rose 5.91 points, or 0.26 percent, to close at 2,309.03. Trading volume was low at 252 million shares worth 4.2 trillion won (US$3.83 billion), with gainers outnumbering losers 423 to 376.
It marked the first time in nine years that the main bourse closed higher for nine consecutive sessions.
Foreigners bought more shares than they sold at a net 120 billion won, while retail investors offloaded a net 218 billion won. Institutions bought a net 51 billion won.
The Korean currency was trading at 1,110.20 won against the greenback, down 0.20 won from the previous session’s close.
By Song Seung-hyun and newswires (
ssh@heraldcorp.com)