Seoul shares inched up 0.2 percent on Tuesday helped by gains in autos and crude oil refiners, but rises were limited as caution set in ahead of a decision by the US Federal Reserve on monetary easing on Wednesday. The Korea Composite Stock Price Index (KOSPI) finished up 3.3 points at 1,918.04 points.
"As investors await an announcement from the US Federal Reserve on its stimulus measure plans, they are moving cautiously," said Bae Sung-young, a market analyst at Hyundai Securities." Foreign investors turned net buyers after two sessions of selling, purchasing a net 10.3 billion won ($9.21 million) worth of stocks.
Automakers continued to advance amid a rosy sectoral outlook. Hyundai Motor Co ended up 1.7 percent, posting a fresh historical closing high and becoming the second-biggest share on the KOSPI after Samsung Electronics. Crude oil refiners rose following their recent streak of losses and as their earnings oulook on fourth quarter and first half of next year were seen strong, said Ahn Sang-hee, an analyst at Daishin Securities. The KOSPI 200 December futures index rose 0.35 points to 247.80. The KOSPI 200 spot index gained 0.52 points to 247.93.