S Korean Shares End Up 0.9% To 856.86 On Bargain Hunting
Thursday March 14, 2:14 am Eastern Time
biz.yahoo.com
SEOUL -(Dow Jones)- South Korean shares closed higher Thursday as retail investors' bargain hunting in the afternoon offset selling by local institutions and foreign investors, said analysts.
ADVERTISEMENT
The Korea Composite Stock Price Index, or Kospi, rose 0.9%, or 7.73 points, to 856.86. About 678.1 million shares, valued at 4.81 trillion won ($1=KRW1,321.1), were traded.
Gainers led decliners 448 to 344 and 54 stocks remaining unchanged. Thirty- five stocks rose by their daily limit of 15% and five fell by the limit of 15%.
The over-the-counter Kosdaq rose 0.53 point, or 0.6%, to 87.49. About 398.52 million Kosdaq shares, worth KRW1.93 trillion, were traded.
The Kospi had been down throughout the day as investors sold shares following the U.S. markets' tepid performance Wednesday and on triple-witching in South Korea Thursday.
Triple-witching refers to the simultaneous expiration of index futures, index options and individual equity options.
Trading near or on triple-witching is generally volatile, often leading to selling pressure, as arbitrageurs close out their positions. |
