South Korean stocks ended higher Wednesday as foreigners increased their stock purchases that offset sell-offs by institutions. The won traded higher against the dollar.
The benchmark Korea Composite Stock Price Index rose 1.07 points, or 0.05 percent, to close at 2,366.40. Trade volume was moderate at 225.09 million shares worth 3.918 trillion won ($3.3 billion), with losers outnumbering winners 479 to 306.
Foreigners and individuals bought a combined 183 billion won ($162 million) worth of stocks, offsetting 198 billion won worth of shares sold by institutions.
Analysts expect the KOSPI index to move in a tight range this week as all eyes are looking for cues from the US Federal Reserve's annual economic policy symposium in Jackson Hole, Wyoming.
Large-cap stocks traded mixed across the board, with bellwether Samsung Electronics Co. advancing 1.02 percent to 2,374,000 won, but top carmaker Hyundai Motor Co. declined 0.34 percent to 146,500 won.
The country's No. 2 chipmaker SK hynix Inc. shed 0.29 percent to 68,000 won, and leading steelmaker POSCO declined 2.79 percent to 330,500 won.
The local currency closed at 1,131.80 won against the US dollar, up 2.00 won from Tuesday's close.
Bond prices, which move inversely to yields, ended higher. The yield on three-year Treasurys fell 0.6 basis point to 1.797 percent and the return on the benchmark five-year government bond declined
0.8 basis point to 2.002 percent. (Yonhap)
