[THE INVESTOR] South Korean shares closed higher on Oct. 14, on foreign investors’ attempt to purchase local shares. The local currency grew stronger against the US greenback.

The benchmark KOSPI gained 7.16 points, or 0.36 percent, to 2,022.60. Trading volume was moderate at 453 million shares worth 4.1 trillion won (US$3.62 billion).

Foreign investors purchased a net 32.76 billion won, remaining net buyers for two consecutive sessions, while institutional investors offloaded a net 805 million won, extending their selling streak to a second consecutive session. Retail investors dumped 43.9 billion won. 



“Foreigners scooped up local shares by greater numbers until about halfway through the day, but turned to selling on profit-taking amid an apparent lack of any clear leads,” Bookook Securities analyst Kim Sung-hwan said.

Large market caps closed mixed.

Samsung Electronics spiked 1.28 percent to 1,577,000 won, but top automaker Hyundai Motor retreated 0.75 percent to 133,000 won.

Cosmetics giant AmorePacific plunged 1.47 percent to 368,000 won, while global steelmaker POSCO advanced 1.54 percent to 231,000 won.

The local currency closed at 1,132.10 won against the US dollar, up 3.80 won from the previous session’s close.

(theinvestor@heraldcorp.com)