Roundup: S. Korean shares rise on foreign fund inflow

South Korean shares gained ground Wednesday as foreign funds flowed into the local stock market amid higher oil prices.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10. 83 points, or 0.55 percent, to 1,962.79 at the close. Trading volume stood at 343.3 million shares worth 4.94 trillion won (4.56 billion U.S. dollars).

Recent hike in crude oil prices eased uncertainties over the global economy, leading to overnight gains in Wall Street.

Concerns over possible exit of Greece from the euro zone also eased, driving foreign capital to flow into the local stock market.

Foreigners raised stock holdings by 227.8 billion won, leading the KOSPI's gain. Retail investors sold shares worth 251 billion won, but local institutions purchased a net 30 billion won of stocks.

Market watchers said higher oil prices and eased concerns over Greece bolstered appetite for risky assets, noting that foreign funds are expected to flow into South Korea as they sold local stocks in the past two months.

Foreigners sold local stocks worth 949 billion won in January after offloading 1.9 trillion won worth of shares.

Large-cap shares ended mixed. Leading chemical firm LG Chem advanced 2.6 percent, and top steelmaker POSCO climbed 2.4 percent.

Display maker LG Display gained 3 percent, but the biggest mobile operator SK Telecom lost 0.9 percent. The Number 1 life insurer Samsung Life Insurance rose 0.9 percent, and the world's largest shipbuilder Hyundai Heavy Industries declined 1.7 percent.

The South Korean currency finished at 1,084.1 won against the greenback, up 13.3 won from Tuesday's close.

Bond prices ended lower. Yields on the liquid three-year treasury notes rose 2.6 basis points to 1.961 percent, and the return on the benchmark 10-year government bonds added 3.8 basis points to 2.249 percent. Endi