South Korean stocks closed 0.35 percent higher Friday, as gains from non-ferrous metals and financial firms overshadowed concerns over worsening quarterly earnings, analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index added 6.69 points to finish at 1,906.75. Trading volume was moderate at 324.8 million shares worth 4.37 trillion won ($3.91 billion), but decliners outnumbered gainers 422 to 379.
“Those that have dipped in the past several sessions picked up, with a lot of non-ferrous metals and chemical issues gathering ground,” said Lee Jae-man, an analyst at Tongyang Securities Co.
“Lackluster corporate performances certainly have weighed on the KOSPI, but we’ve been scared to hear that pretty much for this whole quarter. So anything more will hardly surprise us.” (Yonhap News)
