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Seoul: Stocks end higher as investors hunt for bargains, won down

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[SEOUL] South Korean shares edged up on Monday as investors came back to hunt for bargains, extending a recovery from last week's sharp drop.

The Korea Composite Stock Price Index (Kospi) closed up 0.1 per cent at 2,398.75 points.

Foreign investors purchased 93.3 billion won (S$112.4 million) worth of Kospi shares for the day.

Samsung Electronics posted only moderate losses in the wake of South Korean prosecutors seeking a 12-year jail term for its vice chairman over charges that include allegedly bribing the former president for government support to help Lee cement control of the group.

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Shares of Samsung Electronics ended down 0.3 per cent at 2,379,000 won.

The South Korean won was a little weaker as upbeat US jobs data pushed up the greenback, paving the way for the Federal Reserve to announce a plan to start cutting its massive bond portfolio.

The won was quoted at 1,127.1 to the US dollar at the conclusion of onshore trade, down 0.2 per cent versus Friday's close of 1,125.0.

REUTERS

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