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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.