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Seoul: Shares close higher as brokerages and banks rise; won up

[SEOUL] Seoul shares edged up on Monday, led by broad rally in brokerages and banking stocks and helped by institutional buying.

The Korea Composite Stock Price Index (Kospi) ended up 0.3 per cent at 1,981.19.

The sub-index for security stocks rose 3.7 per cent.

Foreigners were net sellers, dumping a net 114.1 billion won (S$136.3 million) worth of Kospi shares on the day, having slashed a net 3.1 trillion won from their portfolios in the previous 13 sessions.

The South Korean won closed local trade up 0.5 per cent at 1,177.6 per dollar, reversing a three-day losing spree. It extended gains in afternoon trade, supported by China's firm yuan.