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South Korea: Stocks end higher; Fed meet statement eyed
[SEOUL] South Korean shares closed higher on Wednesday, ahead of the US Federal Reserve's policy statement, although gains were capped on concerns about the country's semiconductor sector.
The Seoul stock market's main KOSPI ended up 7.62 points, or 0.36 per cent, to 2,105.62.
The KOSPI has risen 3.16 per cent so far this year and gained 0.3 per cent in the previous 30 trading sessions.
Trading volume on the KOSPI index was 661.68 million shares and, of the total traded issues of 909, the number of advancing shares was 464.
South Korea's Dec 1-10 trade data dented hopes for a near-term recovery in semiconductor sector, said Lee Won, an analyst at Bookook Securities.
The country reported a rare jump in exports for the first 10 days of December, but a continued slump in chip sales raised questions over whether the tech industry is bottoming out.