South Korean stocks closed slightly higher Monday as investors scooped up companies opting for big stock buybacks and more dividends, with insurance and tech shares leading the gain. The local currency gained against the U.S. dollar.
  

The benchmark Korea Composite Stock Price Index rose 5.77 points, or 0.28 percent, to 2,035.24. Trading volume was slim at 357.97 million shares worth 3.77 trillion won ($3.3 billion), with losers outpacing winners 467 to 347.
  

Analysts said slowing South Korea's exports and downbeat manufacturing data from China worsened the outlook for Asia's fourth-largest economy, weighing down export-oriented companies.
  

South Korea's current account surplus widened from a month earlier in September but mostly because imports dropped at a faster clip than exports, central bank data showed Monday.
  

China's factory activity fell for the eighth straight month in October, stoking fears the economy may still be losing momentum despite stimulus measures.
  

"Investors raised shares in stocks that announced plans for bigger payout and stock buyout programs, while reducing assets in companies relying on exports to China," said Han Yo-seop, an analyst at KDB Daewoo Securities. "It is time to rebalance assets to focus more on stocks related to domestic consumption."
  

Tech shares finished bullish. Market bellwether Samsung Electronics edged up 0.8 percent to 1,383,000 won, and chip giant SK hynix advanced 4.72 percent to 32,150 won.
  

Samsung Life Insurance, a unit of top conglomerate Samsung Group, jumped 4.59 percent to 114,000 won after it announced a share buyback program worth 700 billion won on Friday, following suits of other affiliates adopting shareholder-friendly policies. 
  

SK Telecom, the nation's No. 1 mobile carrier, fell 1.04 percent to 238,500 won after the firm said it will acquire CJ Hellovision, a leading cable television operator, to tap into the media platform business.
  

Under the deal, SK Telecom will take over a 30 percent stake for 500 billion won in CJ Hellovision from its parent firm CJ O Shopping, which soared 8.78 percent to 192,000 won.
  

The local currency ended at 1,137 won against the greenback, up 3.1 won from Friday's close.
  

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 0.1 basis point to 1.658 percent and the return on the benchmark five-year government bonds added 1.3 basis points to 1.806 percent.  (Yonhap)