April 25, 2024

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Korean stocks closed almost flat after a choppy session on Feb. 7 as institutions sold off shares amid uncertainties, offsetting a massive buying-spree by foreigners, analysts said. The Korean won fell against the US dollar.

The benchmark KOSPI was down 0.04 point to close at 2,203.42. Trading volume was moderate at 423 million shares worth 6.25 trillion won (US$5.56 billion), with winners outnumbering losers 483 to 332.

Foreigners and individuals bought a net 162.6 billion won and 67.9 billion won worth of local stocks, respectively, while institutional investors offloaded 250.5 billion won worth of stocks.

The Korean currency closed at 1,124.10 won against the US dollar, down 5.30 won from the previous session.

By Ram Garikipati and newswires (ram@heraldcorp.com)