South Korean shares ended up just over half a percent on Thursday, recording their highest closing level in more than four months, led by gains in bank stocks and encouraged by heavy foreign buying in futures.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.56 percent to close at 855.38, its highest closing level since May 4, when the index finished at 867.48. Foreign investors bought a net 307.8 billion worth of futures, according to the Korea Stock Exchange.
Banking stocks were among the biggest gainers Thursday, with Hana Bank gaining 3.09 percent to end at 28,350 won and Shinhan Financial Group up 1.95 percent to 20,950 won. Meanwhile, Kookmin Bank, the country's largest ledner, rose 1.19 percent to 38,200 won.
Trade volume reached 797 million shares worth 2.2 trillion won, versus 429 million shares worth 2.1 trillion won on Wednesday.
Gainers edged out losers by 420 to 302 with 86 titles ending flat.
Foreign investors sold a net of 152 billion won in shares on the main bourse and retail investors sold a net 179 billion won. Institutional investors bought a net of 300 billion won in shares.
The December KOSPI 200 futures index rose 0.50 point to 110.00 and the underlying KOSPI 200 spot index was up 0.93 points to 110.20. The over-the-counter Kosdaq lost 0.24 percent to finish at 371.38.
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