south korean shares rise on institutional bargainhunting
Last Updated : GMT 03:09:26
Arab Today, arab today
Arab Today, arab today

South Korean shares rise on institutional bargain-hunting

Arab Today, arab today

Arab Today, arab today South Korean shares rise on institutional bargain-hunting

Korea Composite Stock Price Index
Seoul - XINHUA

South Korean shares ended in positive territory on Monday as local financial institutions hunted for bargains despite lingering worry about the U.S. central bank's expected interest rate hike in June.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 7.58 points, or 0.39 percent, to settle at 1,955.25. Trading volume stood at 393.84 million shares worth 4.01 trillion won (3.39 billion U.S. dollars).

As the KOSPI fell below the 1,950-point mark last week, institutional investors purchased stocks on demand for bargain-hunting.

However, the stock purchase was limited on the remaining concerns that the U.S. Federal Reserve is expected to raise its policy rate as early as next month given the April FOMC meeting minutes, in which U.S. central bankers suggested the need for higher interest rates.

Investors'sentiment was also damaged by possible Brexit, or Britain's exit from the European Union (EU), ahead of a referendum in the European country scheduled for next month.

Institutional investors bought local stocks worth 38 billion won. Foreigners, who sold local stocks in early trading, turned into net buyers by purchasing a net 5 billion won worth of shares. Retail investors alone offloaded stocks worth 68 billion won.

Market watchers said that foreign purchase in stock futures and institutional buying of stocks on spot contributed to the higher close of the KOSPI, expecting volatile moves of stocks in the near term amid lingering concerns about external uncertainties.

Blue-chip stocks ended mixed. Market bellwether Samsung Electronics gained 1.3 percent, and top automaker Hyundai Motor added 0.8 percent. The biggest auto parts maker Hyundai Mobis rose 0.6 percent, and memory chip giant SK Hynix advanced 3.4 percent.

The state-run power supplier Korea Electric Power Corp. lost 0.3 percent, and top life insurer Samsung Life Insurance declined 2.4 percent. Leading cosmetics producer Amore Pacific inched down 0.1 percent, and the No.2 carmaker Kia Motors dipped 0.8 percent.

South Korea's currency finished at 1,182.9 won against the greenback, up 7.3 won from Friday's close.

Bond prices ended higher. Yields on the liquid three-year treasury notes fell 0.4 basis points to 1.467 percent, and the return on the benchmark 10-year government bonds lost 0.3 basis points to 1.800 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korean shares rise on institutional bargainhunting south korean shares rise on institutional bargainhunting

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south korean shares rise on institutional bargainhunting south korean shares rise on institutional bargainhunting

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday