The KOSPI edged higher Wednesday in Seoul as corporate buying outweighed selling by retail and foreign investors. The benchmark closed at 6,808.21, up 0.97 percent, after Samsung Electronics and SK hynix stepped up share buyback plans. The Kosdaq was little changed, and the won strengthened against the U.S. dollar to 1,384.8 per dollar.
A stock ticker at Hana Bank's headquarters in Seoul shows the benchmark KOSPI closing at 6,808.21, up 0.97 percent from the previous session, Wednesday. Yonhap
The KOSPI edged higher Wednesday, buoyed by buying from corporate investors as Samsung Electronics and SK hynix stepped up share buyback plans, though cautious trading ahead of Nvidia’s earnings kept gains in check.
The benchmark index opened at 6,727.25, down 0.23 percent from the previous session, and moved within a narrow range before picking up momentum in the afternoon. It ultimately closed at 6,808.21, up 0.97 percent.
The gain came despite selling by both retail and foreign investors. Retail investors offloaded a net 2.25 trillion won ($1.63 billion) worth of shares, while foreign investors sold 105.2 billion won. Institutional investors, meanwhile, purchased a net 764.9 billion won.
