South Korea: Shares close up on hopes China will unleash more stimulus; won up
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korean shares rose modestly on Tuesday on hopes that China will roll out more stimulus measures after reporting its slowest annual economic growth in 25 years.
The Korea Composite Stock Price Index (KOSPI) closed up 0.6 per cent at 1,889.64 points, after falling as much as 0.6 per cent in morning trade.
China is South Korea's largest trading partner.
However, offshore investors were net sellers for a ninth straight day, dumping a net 272.6 billion won (US$226.07 million) worth of shares on the main board, preliminary data showed.
Meanwhile, institutions bought stocks on the dips, supporting the broader market.
The South Korean won was quoted at 1,205.9 to the dollar at the conclusion of onshore trade, up 0.4 per cent compared to Monday's close of 1,210.9.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
