Seoul shares rose on Wednesday led by steelmakers such as POSCO after prices for steel products in China rose. The Korea Composite Stock Price Index (KOSPI) closed up 0.69 percent at 1,748.78 points. Foreign investors were buyers of a net 201.7 billion won ($167.2 million) worth of stocks.
POSCO, the world's No 3 steelmaker, rose 2.4 percent after Chinese futures prices of rebar, used on construction sites, advanced. Hyundai Steel, South Korea's No 2 steelmaker, jumped 5.6 percent. Shipbuilders rose after order news and amid a positive earnings outlook, with Hyundai Heavy Industries climbing 3.9 percent. The KOSPI 200 September futures index ended up 1.80 points at 228.30, and the KOSPI 200 spot index rose 2.04 points to 227.88. The junior Kosdaq market ended 0.6 percent lower at 496.73.
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