South Korean stocks finished moderately higher Wednesday on foreign and individual purchases. The local currency rose slightly against the U.S. dollar.
Swinging between gains and losses, the benchmark Korea Composite Stock Price Index (KOSPI) gained 10.91 points, or 0.42 percent, to close at 2,613.5.
Trade volume was higher at 345.9 million shares worth 10.3 trillion won (US$7.6 billion), but decliners outnumbered gainers 591 to 300.
Foreigners scooped up a net 231.1 billion won worth of local shares and individual investors bought a net 203.7 billion won. But institutions dumped a net 445.3 billion won.
“Ex-dividend affected the Korean stock index, which has shown choppy movements despite good news from the United States,” Han Ji-young from Kiwoom Securities said.
The ex-date, or ex-dividend date, is the trading date on or after which the dividend is not owed to a new buyer of the stock. For this year, the ex-dividend date falls on Wednesday.
Major shares finished in mixed territory.
Market bellwether Samsung Electronics rose 1.83 percent to a yearly high of 78,000 won, extending its winning streak to six sessions.
Leading battery maker LG Energy Solution gained 1.32 percent to 421,000 won, and POSCO Future M climbed 2.73 percent to 357,500 won.
No. 2 automaker Kia rose 0.73 percent to 97,000, and top oil refinery SK Innovation grew 0.94 percent to 139,100 won.
Top online portal operator Naver jumped 3.48 percent to 223,000 won and its rival Kakao rose 1.91 percent to 53,400 won.
But SK hynix, the second-largest memory chipmaker, fell 0.35 percent to 140,400 won, and LG Electronics finished flat at 100,000 won.
Major oil refiner S-Oil dropped 2.41 percent to 68,900 won, and top chemicals maker LG Chem retreated 0.92 percent to 486,000 won.
The local currency closed at 1,294.2 won against the greenback, up 0.3 won from the previous session’s close.
Source: Yonhap News Agency