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Seoul: Stocks edge up in subdued trading, won steady

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[SEOUL] South Korean shares got off to a slow start in the new year on Monday, with major global markets shut and investors awaiting minutes from the Federal Reserve's December meeting and US jobs data.

The Korea Composite Stock Price Index (Kospi) was up 0.2 per cent at 2,030.95 points as of 0306 GMT, after the market opened an hour later than normal. The index finished 2016 up 3.3 per cent.

"Share movements will be boxed in throughout the week as the Federal Open Market Committee's December meeting minutes and US employment data are all coming out later this week," said Kim Ye-Eun, a stock analyst at LIG Investment & Securities.

The FOMC minutes are due on Wednesday and the US non-farm payrolls report for December is due on Friday.

sentifi.com

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In mid-session trade, offshore investors were small net sellers of Kospi shares.

Tech giant Samsung Electronics Co Ltd was 0.4 per cent higher while web portal Naver Corp rose more than one per cent.

Decliners outnumbered advancers 446 to 341.

The South Korean won was quoted at 1,207.6 to the US dollar, little changed from the previous close of 1,207.7.

March futures on three-year treasury bonds gained 0.03 point to 109.60.

REUTERS

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