Published : 2013-10-22 15:28
Updated : 2013-10-22 15:28
South Korean stocks edged up 0.15 percent Tuesday as investors took a wait-and-see approach ahead of the United States jobs data for September, analysts said. The local currency gained against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.11 points to finish at 2,056.12. Trading volume was moderate at 368.3 million shares worth 4.56 trillion won ($4.3 billion), with gainers outpacing losers 508 to 293.
Analysts said Seoul shares remained almost unchanged as investors sat on the sidelines as the U.S. is scheduled to announce its jobs data for September before the next trading session.
"The major concern of investors is whether the U.S. will maintain its recovery trend down the road," said Lee Sang-jae, a researcher at Hyundai Securities Co.
"Accordingly, investors sat on the sideline as September's jobs data will suggest how (the U.S. economy) will perform in the future," Lee added.
Overseas investors became net buyers on the main bourse for the 38th consecutive trading session at a net 208.27 billion won, breaking its earlier record of 37 days set on Monday.
Individuals and institutions, in contrast, sold more shares than they bought at 132.7 billion won and 63.5 billion won, respectively.
Leading polysilicon manufacturer OCI gained 2.67 percent to 211,500 won on brighter outlook for the industry.
Shinsegae, a local department chain operator, moved up 1.51 percent to 269,000 won as foreign investors scooped up its shares.
Construction shares also traded higher, with Hyundai Engineering & Construction rising 1.31 percent to 61,700 won and Daelim Industrial adding 1.88 percent to 108,500 won. Daewoo Engineering & Construction gained 2.49 percent to 8,640 won.
In contrast, Samsung Engineering, the country's leading industrial plant builder, fell 3.64 percent to 71,400 won on reports the firm's credit rating was slashed due to its weak earnings.
Tech shares also closed bearish, with market behemoth Samsung Electronics decreasing 0.61 percent to 1,455,000 won and its smaller rival LG Electronics falling 0.42 percent to 70,300 won.
Top chipmaker SK hynix shed 4.4 percent to 32,600 won.
The local currency ended at 1,060.80 won against the greenback, up 1.40 won from Monday's close as exporters offloaded the dollar, dealers said. (Yonhap News)