Seoul shares ended higher Tuesday after recovering sharp early losses triggered by overnight weakness in U.S. technology shares. The benchmark KOSPI closed at 6,742.74, up 45.78 points, or 0.68 percent, while the Kosdaq finished at 827.15, up 1.7 percent. Samsung Electronics and SK hynix both recovered after early pressure, and the won weakened against the dollar.
The won-dollar exchange rate, KOSPI and Kosdaq indexes are displayed in the dealing room of Hana Bank in Seoul, Tuesday. The benchmark KOSPI closed at 6,742.74, up 45.78 points, or 0.68 percent, from the previous session. Yonhap
Seoul shares ended higher Tuesday, recouping sharp early losses as leading chip stocks recovered from a sell-off, triggered by overnight weakness in U.S. technology shares.
The benchmark KOSPI opened 2.4 percent lower at 6,535.93 and fell more than 4 percent at one point in morning trading before recovering in the afternoon. It closed at 6,742.74, up 45.78 points, or 0.68 percent, from the previous session.
Foreign investors were net sellers, offloading a net 3.82 trillion won ($2.75 billion) worth of shares, while institutional and retail investors were net buyers, purchasing 1.17 trillion won and 1.05 trillion won, respectively.
