S Korean stocks end at record high on earnings hopes

Published: October 24, 2017 13:15:39 | Updated: October 25, 2017 11:55:49


File Photo (Reuters)

South Korean shares hit another record high on Tuesday on bullish market expectations for September quarter earnings due later this week, though further gains were blocked by foreign profit-taking.

The Korea Composite Stock Price Index (KOSPI) closed at a record 2,490.49 points, reports Reuters.

Foreign investors sold a net 101.4 billion won ($89.93 million) worth of KOSPI shares on the day, sparked by a large sell-off on Wall Street overnight.

The South Korean won edged up in response to the US dollar’s weakness.

The won was quoted at 1,127.4 to the dollar at the conclusion of onshore trade, up 0.3 per cent versus Monday’s close of 1,130.2.

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