S.Korea stocks climb on buying by foreigners
Reuters India | May 20, 2019
South Korea's KOSPI stock index rose on Monday after foreigners turned net buyers, with most market heavyweights supporting the major index. The Korean won and benchmark bond yield rose. As of 0209 GMT, the Seoul stock market's main KOSPI rose 10.22 points or 0.50% to 2,066.02. Samsung Electronics the biggest KOSPI share, rose 1.7%, while Hyundai Motor gained 2.4%. In the face of won's continued weakness against dollar, South Korean finance minister said he will deploy measures to stabilize markets in case herd behaviours increase. Foreigners were net buyers of 19.7 billion won ($16.51 million) worth of shares on the main board. The won quoted at 1,192.0 per dollar on the onshore settlement platform, 0.31% higher than its previous close at 1,195.7. In offshore trading, the won quoted at 1,193.2 per U.S. dollar, while in one-year non-deliverable forward trading its one-month contract quoted at 1,191.5 per dollar.