Korean stocks slightly rebound as trade fears ease
South Korean shares closed higher on May 15 on eased concerns about a tariff war between the United States and China, the world’s two largest economies that are also Korea’s largest trading partners. The local currency slightly rose against the US dollar.
The benchmark Kospi added 10.94 points, or 0.53 percent, to close at 2,092.78. Trading volume was moderate at some 556 million shares worth 4.86 trillion won ($4.08 billion), with gainers outpacing losers 648 to 195.
In Seoul, foreigners offloaded a net 77.5 billion won, extending their selling streak to a fifth consecutive session. Individuals scooped up a net 107 billion won, while institutions sold a net 48 billion won.
The local currency closed at 1,188.60 won against the US dollar, up 0.80 won from the previous session.
By Ram Garikipati and newswires (email@example.com