April 24, 2024

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South Korean stocks closed higher on July 10 after falling for two previous sessions as investors scooped up undervalued shares, analysts said. The Korean won fell against the US dollar.

The benchmark Kospi rose 6.75 points, or 0.33 percent, to close at 2,058.78. Trading volume was low at 350 million shares worth 3.86 trillion won ($3.27 billion), with gainers far outpacing losers 537 to 286.

Foreigners bought a net 201 billion won, while retail investors offloaded a net 200 million won. Institutions bought more shares than they sold at 187 billion won. 

The local currency closed at 1,181.60 won against the US dollar, down 1.10 won from the previous session.

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