South Korean stocks closed 0.18 percent higher Thursday as a spate of negative factors began to fade, whetting investors’ appetite for risk, analysts said. The local currency rose against the U.S. dollar.
The benchmark Korea Composite Stock Price Index advanced 3.54 points to finish at 1,977.42. Trading volume was moderate at 330.5 million shares worth 3.36 trillion won ($3.09 billion) with gainers outstripping decliners 481 to 304.
“North Korea’s nuclear test had little impact, currency worries eased ahead of the Group of 20 meeting and foreigners came back with net buying.
All of these point to upward momentum for the Seoul market,” said Park Sung-hoon, an analyst at Woori Investment & Securities Co.
Investors also shrugged off wariness over options and futures expiration and the central bank’s monetary policy meeting, which is another positive sign, Park added.
Foreigners scooped up a net 76.4 billion won, extending its buying mode for the fifth consecutive session. Institutions bought a net 40.2 billion won. (Yonhap News)
