Seoul stocks end up 0.09 pct on foreign buying

(ATTN: ADDS bond yields at bottom)
By Kim Young-gyo
SEOUL, Aug. 4 (Yonhap) -- South Korean stocks closed 0.09 percent higher Tuesday,
led by auto and tech shares, analysts said. The local currency gained against the
U.S. greenback.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.39 points to
1,566.37, marking a four-day gaining streak. Volume was moderate at 580 million
shares worth 8.08 trillion won (US$6.63 billion), with losers outpacing gainers
420 to 385.
"Foreign investors scooped up a net 530 billion won worth of local shares,
tracking recent bullish Wall Street trading," said Sung Jin-kyung, an analyst at
Daeshin Investment & Securities. Foreigners continued their buying streak for a
15th day.
"However, the Seoul bourse pared its earlier gains in late trading on massive
selling by institutions," Sung said.
During the Tuesday session, the key index at one point hit the highest mark of
the year at 1,586.12.
Top auto maker Hyundai Motor ended sharply higher, bolstered by news that its
market share in the U.S. expanded last month. The carmaker advanced 3.43 percent
to 93,400 won with its affiliate Kia Motors adding 1.88 percent to 16,300 won.
Steelmakers were also boosted on rising prices for steel products. Top steelmaker
POSCO gained 1.00 percent to settle at 505,000 won, and its smaller rival Hyundai
Steel climbed 1.00 percent to 70,900 won
The local currency ended at 1,218.0 won to the U.S. dollar, up 4.4 won from
Monday's close, this year's highest level. Solid foreign stock buying boosted
demand for the won, dealers said.
Bond prices, which move inversely to yields, closed higher. The return on
three-year Treasuries shed 0.02 percentage point to 4.35 percent and the
benchmark yield on five-year government bonds lost 0.02 percentage point to 4.86
percent.
ygkim@yna.co.kr
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