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Roundup: S. Korean shares rebound in six sessions

Xinhua, May 4, 2015 Adjust font size:

South Korean shares rebounded for the first time in six sessions on Monday as foreign investors bought more shares than they sold.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.06 points, or 0.24 percent, to 2,132.23 at the close. Trading volume stood at 352.07 million shares worth 4.67 trillion won (4. 32 billion U.S. dollars).

The KOSPI started higher and stayed in positive territory throughout the session as foreigners were net buyers for the second straight session. Foreigners bought a net 136 billion won worth of local stocks after the Wall Street surge last weekend.

Institutional and retail investors sold shares worth 120 billion won and 11 billion won each, limiting the KOSPI's gain.

Investors refrained from taking aggressive positions ahead of the announcement of key economic indicators and major event in advanced economies.

This week, Europe is scheduled to unveil growth outlook, and trade balance is slated to come from China and the United States, the world's top two economies. In Britain, general elections will be held.

Market watchers expected the KOSPI to swing between gains and losses within a narrow range for the time being due to the major events slated for this week.

Large-cap shares ended mixed. Naver, the most-used search engine tumbled 7.2 percent on downbeat earnings for the first quarter. Market bellwether Samsung Electronics slid 0.7 percent, and top wireless carrier SK Telecom lost 1.9 percent. The biggest automaker Hyundai Motor advanced 1.8 percent, and memory chip giant SK Hynix gained 1.4 percent. The state-run power supplier Korea Electric Power Corp. climbed 2.4 percent, and the No. 1 auto parts maker Hyundai Mobis added 0.4 percent.

The South Korean currency finished at 1,079.2 won against the greenback, down 6.8 won from Thursday's close. The local financial market closed last Friday for the May Day holiday.

Bond prices ended lower. Yields on the liquid three-year treasury notes rose 5.3 basis points to 1.896 percent, and the return on the benchmark 10-year government bonds added 7.2 basis point to 2.486 percent. Endi