April 18, 2024

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South Korean stocks closed higher on March 21 to snap a two-day losing streak as foreign investors scooped up large-cap tech shares after a dovish statement by US Federal Reserve, analysts said. The Korean won gained ground against the US dollar.

The benchmark Kospi added 7.78 points, or 0.36 percent, to 2,184.88. Trade volume was moderate at 337 million shares worth 6.15 trillion won ($5.45 billion), with decliners far outnumbering gainers 623 to 236.

Foreigners bought a net 486.7 billion won worth of shares on the main exchange, while individual and institutional investors offloading 325.8 billion won and 152.2 billion won worth of shares more than they bought, respectively.

The Korean currency closed at 1,127.70 won against the US dollar, up 2.70 won from the previous session.

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