Korean stocks finished higher on Jan. 16 as China’s plan for stimulus to guard against slowing growth whetted investors’ appetite for risk, analysts said. The Korean won strengthened against the US dollar.
The benchmark KOSPI rose 8.92 points, or 0.43 percent, to 2.106.10, the highest figure since Dec. 4. Trading volume was moderate at 492.71 million shares worth 5.27 trillion won (US$4.71 billion), with gainers outnumbering losers 507 to 328.
Retail investors and institutions, however, offloaded shares worth 89 billion won and 18.5 billion won, respectively, to lock in profits from big gains in the previous session.
The local currency closed at 1,120.10 won against the US dollar, up 0.60 won from the previous session’s close.
By Song Seung-hyun and newswires (email@example.com