Seoul shares edged up on Wednesday, rebounding from earlier falls of as much as 1 percent, as investors switched to domestically focused firms and avoided exporters due to worries about slowing growth in the US economy.
Korea Zinc Co Ltd surged 4.38 percent to 97,800 won, amid record zinc futures prices, and after a source at the company said the world's biggest zinc refiner is seeking to list a unit in Australia.
But LG Electronics slumped 5.21 percent to 56,400 won, its biggest one-day fall since June 15, despite reporting better-than-expected profits on Tuesday amid worries about its profit outlook and expectations for continued losses at its flat panel joint venture.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.22 percent to end at 1,354.26 points. Institutional investors were heavy buyers - totalling 225.7 billion won ($236.6 million) - as they piled into shares less vulnerable to the global economic cycle and took advantage of a recent downturn in local markets to pick up cheaper shares.
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