Seoul stocks close higher on tech, auto gains
South Korean stocks closed higher on July 4 on advances by auto and tech shares. The local currency gained some ground against the US greenback.
The benchmark Kospi added 12.71 points, or 0.61 percent, to close at 2,108.73. Trading volume was moderate at 440 million shares worth some 4.47 trillion won ($3.82 billion), with losers outnumbering gainers 447 to 361.
The index remained nearly flat throughout the day after opening a tad higher on overnight gains on Wall Street.
In Seoul, foreign investors turned to buying, one day after they ended a buying streak of six consecutive sessions. Foreigners scooped up a net 40 billion won worth of shares, while individuals offloaded a net 23.7 billion won. Institutions sold a net 9.3 billion won.
The local currency closed at 1,168.60 won against the US dollar, up 2.70 won from the previous session.
By Ram Garikipati and newswires (firstname.lastname@example.org)