Seoul shares edged up on Tuesday after a rangebound trading session as technical pressure was offset by steady offshore bids, with investors undeterred by overnight Wall Street losses and setbacks in the struggle to secure a Greek debt deal. The Korea Composite Stock Price Index (KOSPI) closed 0.43 percent higher at 1,981,59 points.
Foreign investors gobbled up a net 360 billion won ($321.2 million) worth of shares on the day, while retailers offloaded 259.6 billion won worth. Institutional funds dumped shares for an 11th straight session, selling 66.2 billion won worth of shares.
Gains were led by automobile-related shares with parts-maker Hyundai Mobis soaring 4.97 percent while Hankook Tire jumped 6.29 percent. KT Corp, South Korea's second largest mobile carrier, closed down 1.79 percent after posting a 16.7 percent decline in fourth quarter profit compared to a year before.
KT shares fell as much as 2.4 percent earlier in the session, touching their lowest level in more than three years. 533.9 million shares exchanged hands on the main bourse with gainers outnumbering losers 449 to 395. The KOSPI 200 rose 0.34 percent while the junior, tech-heavy KOSDAQ gained 0.38 percent.
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