Seoul shares ended higher on Tuesday, posting a near two-month closing high helped by continuous foreign and institutional buying. Fears about Greece's debt crisis and US growth had eased in the broader market, analysts said, but a mild correction was seen as inevitable given its recent set of rises.
The Korea Composite Stock Price Index (KOSPI) finished up 0.77 percent at 2,161.75 points. The KOSPI 200 September futures rose 1.95 points to 285.85 and the KOSPI 200 spot index climbed 2.21 points to 283.88. The junior Kosdaq market ended up 0.63 percent at 492.37.
After opening higher and then tailing off to trade flat, the market rallied in the afternoon on improved sentiment. Foreign investors were buyers of a net 375.7 billion won ($353.3 million) worth of shares, picking up shares for the fifth consecutive session. Institutions also purchased shares worth 214.6 billion won, offsetting individual selling. Most technology issues gained, with Hynix Semiconductor jumping 3.9 percent after reports on Hyundai Heavy's bid plan for the chipmaker.
Samsung Electronics,the world's No 1 memory chip maker and the largest share on the main KOSPI, climbed 2.4 percent. But LG Electronics fell 1.2 percent on renewed worries over its upcoming quarterly results, caused by pessimistic views about its margin in home appliances. Banks advanced, with Hana Financial Group rising 1.43 percent and Woori Finance Holdings gaining 1.41 percent. Trading volume was 281.3 million shares worth 6.3 trillion won.
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