South Korea's benchmark KOSPI index posted a gain on Tuesday but was trapped in a narrow range, with large-cap chipmakers providing upward momentum but high oil prices and a weak yen denting buying appetite. "High oil prices are starting to have a broader impact on the market overall, and shares will likely be caught in limbo this week," said Bae Sung-yung, an analyst at Hyundai Securities.
Hynix Semiconductor, the world's second-largest memory chip maker, saw its shares jump 6.8 percent, while market leader Samsung Electronics rose 1.2 percent. The Korea Composite Stock Price Index (KOSPI) rose 0.63 percent to close at 2,003.69 points. Offshore investors were net sellers for a second straight session, dumping a net 104.7 billion won ($92.7 million) worth of shares, but institutions turned buyers, gobbling up a net 225.5 billion won worth to snap a nine-day selling streak. 599.3 million shares exchanged hands on the main bourse with decliners outnumbering winners 450 to 383. The KOSPI 200 index climbed 0.82 percent while the junior, tech-heavy KOSDAQ index edged 0.37 percent higher.