Shares end flat after surge

South Korean stocks finished nearly unchanged on Friday as investors sat on the sidelines after the key index’s rally in the previous session, analysts said. The localcurrency fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index edged down 0.01 percent, or 0.14 points, to 1,916.04. Trading volume was moderate at 382 million shares worth 5.73 trillion won ($5.08 billion) with gainers leading losers 434 to 389.

“There was no market trigger,” said Kwak Joong-bo, an analyst at Samsung Securities Co. “The U.S. manufacturing data and auto sales reports showed an improvement, relieving investors that the slowdown in Europe and China hasn’t spread to the U.S., but trading volume remained thinner than Thursday.”

On Thursday, the KOSPI rallied 3.72 percent with 9.34 trillion won worth of stocks changing hands, as investors were cheered by global central banks’ move to reduce borrowing costs.

During the Friday session, the key index moved in a narrow band, bobbing in and out of positive territory.

Retail investors remained net sellers, cutting a net 340.6 billion won, while institutional investors extended their net buying streak, adding a net 410.7 billion won. 

(Yonhap News)