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Seoul: Stocks finish at new high on earnings hopes, offsets foreign selloff
[SEOUL] South Korean shares hit another record high on Tuesday on bullish market expectations for September quarter earnings due later this week, though further gains were blocked by foreign profit-taking.
The Korea Composite Stock Price Index (KOSPI) closed at a record 2,490.49 points.
Foreign investors sold a net 101.4 billion won (S$122.3 million) worth of KOSPI shares on the day, sparked by a large selloff on Wall Street overnight.
The South Korean won edged up in response to the US dollar's weakness.
The won was quoted at 1,127.4 to the US dollar at the conclusion of onshore trade, up 0.3 per cent versus Monday's close of 1,130.2.