April 19, 2024

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South Korean shares closed higher on June 24 on the back of gains in tech and auto stocks amid speculation that the United States and China may strike a deal on trade this week. The Korean won sharply rose against the dollar.

The benchmark Kospi rose 0.71 point, or 0.03 percent, to close at 2,126.33. Trade volume was moderate at 661 million shares worth 4 trillion won ($3.5 billion), with losers outnumbering gainers 462 to 372.

Institutions bought a net 164 billion won worth of stocks. But foreigners and individuals sold a combined 173 billion won worth of stocks.

The local currency closed at 1,156.50 won against the US dollar, sharply up 7.50 won from the previous session’s close.

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