Seoul stocks end higher on post-election relief
[THE INVESTOR] Korean stocks ended higher on Nov. 8 as the conclusion of the midterm elections in the United States cleared up market uncertainties and the subsequent rallies on Wall Street buoyed investor sentiment, analysts said. The Korean currency strengthened against the US dollar.
The benchmark KOSPI added 13.94 points, or 0.67 percent, to close at 2,092.63. Trading volume was moderate at 322.59 million shares worth 5.86 trillion won (US$5.25 billion), with winners outnumbering losers 718 to 131.
Foreign investors picked up 492.7 billion won of local shares to pull the index up, while retail investors and institutions shed 275.5 billion won and 230.4 billion won worth of stocks, respectively.
The Korean currency closed at 1,117.30 won against the US dollar, up 6 won from the previous session.
By Song Seung-hyun and newswires (firstname.lastname@example.org)