Korean stocks rebound on bullish buying by foreign investors
Asian Economic News, June 12, 2000
SEOUL, June 9 Kyodo
Share prices on the Seoul stock exchange rebounded sharply Friday thanks to bullish buying by foreign investors, Yonhap reported.
The key index closed the session at 836.4, up 36.29 points, or 4.54%.
The market held steady until midmorning, but gained momentum as large-cap blue chips, including Samsung SDI and Samsung Electro-Mechanics, soared from midafternoon.
Trading was brisk, with 503 million shares worth 4.8 trillion won changing hands.
Decliners, however, led risers 490 to 339, with 57 others closing unchanged.
Foreign investors led the market with net buying of 276.5 billion won against net selling of 155.8 billion won by institutional investors, and 195.8 billion won by individual investors, respectively.
Most of the construction issues that led the market recently fell victim to profit-taking, as did many bank issues.
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