Seoul shares hit over 2-yr high on strong foreign buying


South Korean stocks closed at a more than two-year high on Tuesday, driven by foreign investors' interest in blue-chip companies following a tech-led rally on Wall Street. The benchmark Korea Composite Stock Price Index rose by 0.72 percent to reach 2,763.92, marking its highest level since February 20, 2022. The local currency also saw a slight gain against the US dollar. Foreign investors played a significant role in the market's bullish trend, purchasing a net 639 billion won worth of local shares. This offset the net selling by individuals and institutions. The positive performance was supported by gains in chipmakers and automakers, while certain sectors such as battery, oil refinery, and entertainment experienced declines. Additionally, the local currency closed at 1,381.1 won against the US dollar, up 0.1 won from the previous session's close.


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