Seoul shares end tad higher, snapping 2-day losing streak
SEOUL, Aug. 10 (Yonhap) -- South Korean stocks ended modestly higher Monday, sna...
Seoul stocks closed slightly higher on Monday, ending a two-day decline, as traders bought major chipmakers following a record-breaking rally on Wall Street. The Korean won depreciated against the US dollar. The KOSPI index increased by 40.89 points, or 0.65%, to hit 6,299.66, after a volatile trading session. The index started the day 0.76% higher and peaked at a 2.16% gain in early trading, before easing somewhat.
The market generally traded in a narrow range due to significant foreign selling. On Friday, US markets rallied, driven by favorable job reports. The Dow Jones Industrial Average gained 0.28%, while the S&P 500 added 0.62% to set a new record high. The tech-focused Nasdaq Composite Index rose 1.3%. Samsung Electronics fell 0.43% to 230,000 won, while its rival SK hynix slipped 0.14% to 1.42 million won.
At 3:30 p.m., the Korean won was trading at 1,418.4 won per US dollar, a 2.3 won decrease from the previous day.
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