You are here

Seoul: Shares lifted by Hyundai Motor; won lower


[SEOUL] South Korean equities edged higher on Tuesday, underpinned by Hyundai Motor and a broad rally in China-linked sectors after South Korea and China reached a "substantial agreement" on a free trade deal.

The Korea Composite Stock Price Index (KOSPI) closed 0.24 per cent higher at 1,963.00 points.

Hyundai Motor, the second-most valuable firm listed on the KOSPI by market capitalisation, soared 5.7 per cent after announcing a 449 billion won (US$411.4 million) share buy-back plan to boost shareholder value.

The South Korean won fell against the dollar, as the greenback resumed its broad rally after investors took a calmer view of disappointing U.S. employment data. The jobs data showed signs of resilience in the labour market but missed forecasts.

The local currency was quoted at 1,091.6 to the dollar at the conclusion of onshore trade, compared with Monday's close of 1,085.0.


BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to