Economy
South Korean Stocks Rise on Back of Foreign Buying
Written: 2018-06-20 15:58:05 / Updated: 2018-06-20 15:58:36
South Korean stocks rose on Wednesday following losses in five consecutive sessions as foreign investors looked to purchase shares on the cheap.
The benchmark Korea Composite Stock Price Index(KOSPI) added 23-point-80 points, or one-point-02 percent, to close the day at two-thousand-363-point-91.
The KOSPI fell for the fifth straight session on Tuesday amid fears of a full-scale trade war between the U.S. and China. However, foreign buyers began to scoop up large-cap shares on Wednesday at a reduced price.
The tech-heavy KOSDAQ also rallied, gaining 24-point-78 points, or three-point-04 percent, closing at 840-point-17.
On the foreign exchange, the local currency strengthened four won against the dollar, ending the session at one-thousand-105-point-one won.
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