SEOUL: South Korean stocks rose 0.94 percent Thursday as foreign investors scooped up large-cap shares bolstered by ample global liquidity, analysts said. The South Korean won gained against the U.S. greenback.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 19.94 points to end at 2,139.9. Trading volume was heavy at 468.9 million shares worth 7.18 trillion won (US$6.59 billion), with gainers outnumbering decliners 458 to 353.
“The market continued to be driven by massive foreign buying, which is being supported by ample liquidity,” said Bae Sung-young, a senior market analyst at Hyundai Securities Co.
“On the local front, the record-low interest rate which stays in the 1 percent range also appears to embolden investors to join the market,” he added.
Offshore investors scooped up a net 363.77 billion won worth of shares, extending their buying streak to eight straight sessions. Institutions and individuals dumped a net 259.1 billion and 104.7 billion won, respectively.
