Seoul shares edged up on Tuesday, led by technology and auto plays, including LG Display and Hyundai Motor, but gains were limited as the index neared its all-time high. The Korea Composite Stock Price Index ended up 0.22 percent at 2,086.67 points. The KOSPI 200 March futures index rose 1.8 points to 276.30 points. The KOSPI 200 spot index advanced 0.68 points to 275.18. The junior Kosdaq index fell 0.8 percent to 522.96.
The Federal Open Market Committee (FOMC) is to hold a two-day meeting on interest rates beginning on Tuesday. Foreign investors were buyers of a net 70.7 billion won ($63.23 million) worth of stocks, poised to snap a three-day selling streak. The main KOSPI's 60-day relative strength index read 63, hovering below the overbought mark of 70.
Shares in KB Financial Group rose 0.5 percent, lifted by local media reports the parent group of Kookmin Bank, the country's largest commercial lender, is in talks with South Korean conglomerates including SK to sell stakes. KB Financial had said last week it will sell a stake to Japan's Sumitomo Mitsui Financial Group in a deal that would help KB unload its own treasury shares and increase Sumitomo's stake in KB. A Kookmin Bank spokesman denied the report when contacted by Reuters. Firm gains in autos gave the market further support amid the sector's positive outlook. Shares in Hyundai Motor, the country's No 1 automaker, rose 1.1 percent and Kia Motors advanced 1.2 percent.