Foreign investors scooped up Korean stocks in February for the fourth consecutive month on the back of hopes for a recovery in the chipmaking sector and stock-boosting measures, central bank data showed Wednesday.
Screens in Hana Bank's trading room in Jung District, central Seoul, show the Kospi closing at 2,657.79 points on Tuesday, down 22.47 points, or 0.84 percent, from the previous trading session.
The Kospi added 31.5 points, or 1.19 percent, to close at 2,680.26, with foreigners buying over 600 billion won.
The Korean government’s planned announcement of policies aimed to boost the stock market is attracting foreign investors into the country, pushing up the price of undervalued stocks.
Shares closed higher Friday as investors betted on a possible rate cut by the Federal Reserve as the U.S. retail sales fell by a wider margin than expected.
Shares opened higher on Friday, tracking overnight gains on Wall Street after U.S. retail sales fell by a wider margin than expected, reviving hopes for Federal Reserve rate cuts.
The Kospi fell 6.62 points, or 0.25 percent, to close at 2,613.80 as investors cashed out.
Shares snapped a three-session winning streak Wednesday as hotter-than-expected U.S. inflation data for January cooled investor sentiment.
Markets perform well with hopes that the forthcoming consumer price index spurs action from the U.S. Federal Reserve.
Korean stocks rose before the Lunar New Year, with the local currency weakening slightly.
Korea JoongAng Daily Sitemap