Seoul: Stocks rise on bargain hunting, won up

[SEOUL] South Korean shares rose on Monday, as investors took heart from a rebound in global stocks and purchased beaten-down companies, shrugging off worse-than-expected trade data from China.

The Korea Composite Stock Price Index (KOSPI) closed up 1.5 per cent at 1,862.20 points after a two-session losing streak.

Foreigners were net buyers by midday, but turned to net sellers in afternoon trade, offloading a net 134.9 billion won (S$156.41 million) worth of KOSPI shares, preliminary data showed.

The South Korean won ended local trade up 0.3 per cent at 1,208.1 against the dollar, supported by a firmer yuan.

REUTERS