Seoul stocks slightly rebound on risk taking
South Korean shares closed a tad higher on May 14, largely helped by institutional buying, one day after the local shares plunged to a near four-month low. The local currency lost further ground against the US dollar.
The benchmark Kospi added 2.83 points, or 0.14 percent, to close at 2,081.84. Trading volume was moderate at nearly 689 million shares worth some 5.78 trillion won ($4.86 billion) with gainers outnumbering losers 489 to 325.
The slight gain came one day after the index plunged 29.03 points, or 1.38 percent, to the lowest since January 14.
The local currency again found a new more than two-year low, closing at 1,189.40 won to the dollar, down 1.90 won from the previous session.
By Ram Garikipati and newswires (firstname.lastname@example.org)