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Roundup: S.Korean shares rise on foreign purchases

Xinhua, February 2, 2015 Adjust font size:

South Korean shares ended higher for the first time in three sessions Monday as foreign investors returned to the local stock market in four trading days on easing worry about the U.S. Federal Reserve's interest rate hike.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3. 42 points, or 0.18 percent, to 1,952.68 at the close. Trading volume stood at 361.38 million shares worth 4.31 trillion won (3. 91 billion U.S. dollars).

After moving in a narrow range throughout the day, the KOSPI turned upward as foreigners bought more shares than they sold for the first time in four trading days.

Concerns eased over the Fed's earlier-than-expected rate hike due to downbeat economic indicators in the U.S. as well as in Europe. Fed Chair Janet Yellen also commented on the Fed being patient toward tight monetary policy.

Foreign and retail investors purchased shares worth 5.8 billion won and 27.5 billion.

Large-cap shares ended mixed. Market bellwether Samsung Electronics inched up 0.2 percent, and top automaker Hyundai Motor added 0.9 percent. The biggest steelmaker POSCO gained 0.8 percent, and the state-run power supplier Korea Electric Power Corp. rose 0. 7 percent.

Memory chip giant SK Hynix declined 2.2 percent, and the most- used search engine Naver slid 0.7 percent. The No.1 mobile operator SK Telecom lost 0.4 percent, and the biggest life insurer Samsung Life Insurance fell 0.4 percent.

The South Korean currency finished at 1,103.3 won against the greenback, down 9.8 won from Friday's close.

Bond prices ended lower. Yields on the liquid three-year treasury notes rose 1.5 basis points to 1.985 percent, and the return on the benchmark 10-year government bonds added 0.5 basis points to 2.245 percent. Endi