Seoul shares gain

Seoul shares rose 0.5 percent on Thursday, led by energy cost-sensitive firms such as Korean Air after oil prices fell to their lowest this year, and as recently battered stocks such as Hynix Semiconductor recovered.
Hanjin Shipping Co rose 5.6 percent to 24,500 won amid take-over speculation after a local newspaper reported an Israeli shipping magnate had raised his stake in the South Korean firm to 12 percent.
"Oil prices have fallen below $58 a barrel, and that's a major reason behind the gains," said Chang In-whan, chief executive and fund manager at KTB Asset Management. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.47 percent to end at 1,331.78 points.
As of Wednesday, the KOSPI had fallen 3.5 percent since North Korea first said on October 4 it was planning a nuclear test, during a time in which the Dow Jones industrial average scaled record highs, while European shares hit five-year highs and Japan's Nikkei five-month highs.
Trade was focused instead on companies sensitive to energy costs, whose shares gained after oil prices hit their lowest since December on Wednesday. Prices remained below $58 a barrel in Asian trade amid reports of a lack of a formal Opec agreement to cut production. Airlines' stocks rose, with Korean Air Co, the country's biggest carrier, surging 3.72 percent to 33,500 won.
State-run Korea Gas Corp rose 3.1 percent to 36,600 won. The gas provider said September sales rose 5.6 percent to 1.27 million metric tonnes. Hynix Semiconductor Inc rose 1.85 percent to 35,850 won. Among other gainers, mobile carrier KTF Co Ltd gained 1.44 percent to 28,150 won after saying on Thursday it would buy back and cancel 152.8 billion won ($159.5 million) worth of its own stocks.
Trade volume reached 252 million shares worth 2.8 trillion won compared to 198.4 million shares worth 2.6 trillion won on Wednesday. Gainers trumped decliners by 587 to 170 with 61 titles ending flat.
Foreign investors sold a net 123.7 billion won in shares on the main bourse, while institutional investors sold a net 28.6 billion won. However, retail investors bought a net 136.8 billion won. The December KOSPI 200 futures index rose 1.50 points to 175.50, while the underlying KOSPI 200 spot index gained 0.59 point to 173.10. South Korea's junior and tech heavy Kosdaq market gained 2.30 percent to finish at 568.25.