South Korean stocks closed higher Tuesday as institutions helped offset net selling by foreigners and individuals. The won traded higher against the dollar.
The benchmark Korea Composite Stock Price Index rose 10.33 points, or 0.44 percent, to close at 2,365.33. Trade volume was moderate at 245.76 million shares worth 3.827 trillion won ($3.3 billion), with winners outnumbering losers 437 to 364.
Institutions scooped up a net 90 billion won worth of stocks. But foreigners and individuals dumped a combined 108 billion won in shares.
Analysts didn't expect any strong rally this week as investors remain cautious awaiting cues from the US Federal Reserve's annual economic policy symposium in Jackson Hole, Wyoming.
Technology stocks led gains, with bellwether Samsung Electronics Co. advancing 0.34 percent to 2,350,000 won and No. 2 chipmaker SK hynix Inc. rising 1.49 percent to 68,200 won.
Among decliners, top carmaker Hyundai Motor Co. fell 0.68 percent to 147,000 won and its affiliate Kia Motors Corp. shed 0.56 percent to 35,500 won.
The local currency closed at 1,133.80 won against the US dollar, up 5.20 won from Monday's close.
Bond prices, which move inversely to yields, ended lower. The yield on three-year Treasurys rose 1.9 basis points to 1.803 percent and the return on the benchmark five-year government bond climbed 1.3 basis points to 2.010 percent. (Yonhap)
