Seoul shares rose on Wednesday, buoyed by strong foreign demand as gains in shipbuilders and insurance issues lent support. The Korea Composite Stock Price Index ended up 0.44 percent at 2,171.19 points, a sixth session of gains in a row. KOSPI 200 September futures ended up 1.1 points at 286.95 points and the KOSPI 200 spot index rose 1.24 points to 285.12.
The junior Kosdaq market ended up 0.12 percent at 492.94. Foreign investors were buyers of a net 170.3 billion won ($159.6 million) worth of stocks, extending buying for six straight sessions. News that the world's largest shipbuilder Hyundai Heavy Industries would not bid for a 15 percent stake in Hynix Semiconductor drove Hyundai shares up 6.4 percent, alleviating concerns about potential synergies over Hyundai's take-over. However, the world's No 2 chipmaker Hynix tumbled 5.4 percent on gloomy prospects over the fate of the potential $2.3 billion deal after its sole potential bidder Hyundai walked out.
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