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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap) |
Seoul shares ended higher Wednesday on the back of gains in tech and battery makers, though investors remain concerned about a potential slowdown after the release of weak US economic data. The Korean won rose against the US dollar.
The benchmark Korea Composite Stock Price Index rose 14.70 points, or 0.59 percent, to close at 2,495.21.
Trading volume was moderate at 624.56 million shares worth 9.6 trillion won ($7.3 billion), with decliners outpacing gainers 458 to 415.
Investors are closely keeping an eye on whether the US economy will chug along or not and which course the Federal Reserve will take after hiking the rates aggressively in the past year to tame inflation.
The weaker than expected US job openings released Tuesday may fuel recession fears, according to analysts.
Institutions bought a net 302 billion won worth of stocks, offsetting foreigners and individuals' stock selling valued at 295 billion won.
In Seoul, tech, battery and auto stocks led gains.
Market bellwether Samsung Electronics Co. rose 0.5 percent to 63,900 won, No. 2 chipmaker SK hynix Inc, climbed 0.1 percent to 84,600 won, top carmaker Hyundai Motor Co. gained 1.6 percent to 186,700 won, and leading car battery maker LG Energy Solution was up 2.3 percent to 588,000 won.
The Korea Exchange banned the short selling of SK hynix shares Wednesday after more than 10 million SK hynix stocks worth more than 830 billion won were short sold a day earlier.
Among decliners, national flag carrier Korean Air Co. fell 0.7 percent to 23,000 won, leading refiner SK Innovation Co. declined 1.2 percent to 179,100 won, and leading cosmetics firm AmorePacific Corp. shed 1.3 percent to 135,900 won.
The local currency ended at 1,310.50 won against the US dollar, up 5.3 won from the previous session's close. (Yonhap)
