Korean stocks bounced back on Jan. 23 as the latest developments in the trade negotiations between Washington and Beijing eased concerns among institutional investors, analysts said. The local currency firmed against the US dollar.
The benchmark KOSPI advanced 10.01 points, or 0.47 percent, to finish at 2,127.78. Trading volume was moderate at 401.77 million shares worth 5 trillion won (US$4.43 billion), with winners outpacing losers 524 to 295.
Institutions bought a net 445.18 billion worth of local stocks to support the broader market. Foreigners and retail investors sold a net 173.7 billion and 273.28 billion won, respectively.
The local currency closed at 1,127.30 won against the greenback, up 3.20 won from the previous session.
By Song Seung-hyun and newswires (email@example.com