Korean stocks made a comeback to regain the 2,000-point level on Jan. 4 as investors sought undervalued shares. The local currency gained ground against the US dollar.
The benchmark KOSPI added 16.55 points, or 0.83 percent, to 2,010.25. It finished over 2,000 points just a day after closing at a more-than-two-year low of 1,993.70.
Trading volume was moderate at 403.3 million shares, worth 5.4 billion won (US$4.80 billion), with winners beating losers 461 to 370.
Institutions led the rise, scooping up a net 223 billion won worth of local shares, offsetting a net 123.1 billion won and 101.6 billion won selling by foreign and individual investors, respectively.
The Korean won traded at 1,124.50 won against the US greenback, up 3.20 won from the previous session’s close.
By Song Seung-hyun and newswires (email@example.com