Bourse snaps losing streak, rises 0.16%
The benchmark Kospi closed at 2,347.38, up 3.7 points, or 0.16 percent, from the previous trading day.
Institutional investors bought 351.3 billion won ($313.9 million) in shares, while foreign investors offloaded 351.1 billion won worth. Retail investors sold 37.3 billion won in shares.
On Tuesday, U.S. stocks dropped amid lingering uncertainties on the future of U.S. politics. The Dow Jones industrial average fell 0.2 percent, with the tech-heavy Nasdaq composite index shedding 0.1 percent.
Tech shares were mixed, with top cap Samsung Electronics ending at 2,235,000 won, up 0.13 percent. Smaller rival LG Electronics lost 1.2 percent to 82,500 won and SK hynix shed 0.7 percent to 57,000 won.
Mobile carriers closed higher, with SK Telecom adding 1.81 percent to 253,500 won and KT inching up 0.62 percent to 32,500 won. LG Uplus moved up 4.18 percent to 16,200 won.
Samsung BioLogics added 4.02 percent to 220,000 won, and Hanmi Pharmaceutical added 4.09 percent to 382,000 won.
Shares of mobile-game maker Netmarble added 1.67 percent to 152,000 won to continue a three-day streak.
Brokerage house SK Securities Co. fell13.33 percent to 1,495 won on news Mirae Asset Daewoo Securities is moving to acquire the firm.
The local currency closed at 1,119.4 won against the U.S. dollar, up 5.6 won from Tuesday’s close.
Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasuries added 0.3 basis point to 1.661 percent and the return on benchmark five-year government bonds increased 0.7 basis point to 1.876 percent.
BY KIM YOUNG-NAM, YONHAP [kim.youngnam@joongang.co.kr]
with the Korea JoongAng Daily
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