April 21, 2024

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South Korean stocks closed higher ending a four-day run of declines on June 18 as investors bought undervalued shares, analysts said. The Korean won rose against the US dollar.

The benchmark Kospi rose 7.98 points, or 0.38 percent, to close at 2,098.71. Trading volume was moderate at 584 million shares worth 4.27 trillion won ($3.6 billion), with losers outpacing gainers 479 to 349.

Foreigners bought a net 40 billion won, while retail investors offloaded a net 129 billion won. Institutions bought more shares than they sold at 86 billion won.

The local currency closed at 1,185.80 won against the US dollar, up 0.70 won from the previous session.

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