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March 30, 2024

Seoul shares open higher on foreign, institution buying

PUBLISHED : May 30, 2017 - 09:50

UPDATED : May 30, 2017 - 09:50

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[THE INVESTOR] South Korean stocks opened higher on May 30 due to increased buying by foreigners and institutions.

The benchmark KOSPI gained 1.03 points, or 0.04 percent, to 2,354.00 in the first 20 minutes of trading.

Bae Sung-young, a market analyst at KB Securities, said the index moved in a tight range due to a lack of upside momentum.

Large-cap stocks were mixed across the board.

Top automaker Hyundai Motor gained 0.62 percent, and auto parts maker Hyundai Mobis was up 0.18 percent.

Meanwhile, market bellwether Samsung Electronics lost 0.92 percent, and No. 2 chipmaker SK hynix was down 0.35 percent.

The local currency was trading at 1,122.75 won against the US dollar, down 1.05 won from the previous session‘s close.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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