Seoul shares end up 0.13 pct on foreign buying

SEOUL, Aug. 9 (Yonhap) -- South Korean stocks closed 0.13 percent higher Friday
as foreign investors continued their buying streak, analysts said. The local
currency lost against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.96 points to
1,576 after moving in a tight range. Volume was moderate at 4.62 million shares
worth 5.57 trillion won (US$4.55 billion), with gainers outpacing losers 497 to
300.
"A continued buying spree by foreign investors propped up the key index as local
institutions and retail investors unloaded their holdings," said Lee Seung-woo,
an analyst at Daewoo Securities.
Foreign investors bought local shares worth 180 billion won, extending their
buying streak to 18 sessions.
Most financial shares gained ground with KB Financial Group, the parent company
of top lender Kookmin Bank, advancing 2.36 percent to 56,500 won. Woori Finance
Holdings, the holding company for second-largest lender Woori Bank, finished 4.63
percent higher to 14,700 won.
Market bellwether Samsung Electronics gained 0.14 percent to 716,000 won on
bargain-hunting following a loss in the previous session.
The local currency ended at 1,225 won against the dollar, down 2.5 won from
Thursday's close, as the greenback remained strong in markets across the world,
dealers said.
ygkim@yna.co.kr
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