Stocks opened stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street.
The Kospi fell 6.42 points, or 0.24 percent, to 2,623.02 despite gains on Wall Street.
Korea’s gas prices surged and the stock market tumbled amid heightened geopolitical tensions in the Middle East.
The main Kospi bourse fell 1.63 percent on Friday to close at 2,591.86 as investors shed risky assets with worsening tension in the Middle East.
Korea’s stock market retreated and the won reached its weakest point against the greenback in 17 months on Monday as tensions in the Middle East escalated following Iran’s recent strikes against Israel.
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.
Korea JoongAng Daily Sitemap