Seoul shares close nearly flat ahead of Fed minutes


South Korean stocks closed almost unchanged on Wednesday as investors remained cautious before the release of the US Federal Open Market Committee's meeting minutes. The benchmark Korea Composite Stock Price Index (KOSPI) saw a slight decrease of 0.03 percent to end at 2,723.46. Trading activity was moderate with 476 million shares valued at 12.1 trillion won, and there were more losers than winners, with a ratio of 474 to 402. Foreign investors bought a net 296 billion won worth of local shares, while individuals sold a net 261 billion won and institutions sold a net 32.1 billion won. The market was affected by anticipation of the FOMC minutes and Nvidia's earnings report, limiting the overall rebound momentum. Tech shares had a mixed performance, with Samsung Electronics falling 0.89 percent and SK hynix gaining 2.97 percent. Financial firms closed lower, while carmakers, auto parts makers, and foodstuff makers performed well. The local currency ended at 1,362.9 won against the US dollar, marking a slight increase from the previous session. In summary, South Korean stocks saw a flat close as investors awaited clues from the upcoming FOMC minutes. The KOSPI edged down slightly, with trading volume moderate and a higher number of losers than winners. Foreign investors were net buyers, while individuals and institutions were net sellers. The market's rebound momentum was limited due to caution over the FOMC minutes and Nvidia's earnings report. Tech shares had a mixed performance, financial firms closed lower, and carmakers, auto parts makers, and foodstuff makers performed well. The local currency ended slightly higher against the US dollar.


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