Seoul - South Korean stocks closed higher on Thursday, driven by significant purchases from institutions and foreign investors. The Korea Composite Stock Price Index (KOSPI) increased by 15.48 points, or 0.61 percent, to close at 2,535.29. The trading session witnessed heavy activity, with a total volume of 645.4 million shares worth 11.5 trillion won (US$8.9 billion). Institutions and foreign investors net bought local shares worth 263.1 billion won and 122.3 billion won, respectively, while individual investors sold off a net total of 369.3 billion won.
According to Yonhap News Agency, Analysts noted that the Bank of Korea's decision to maintain the key interest rate and lower the growth forecast for the next year had a minimal impact on the market, as these moves were largely anticipated. Leading companies such as Samsung Electronics and LG Energy Solution saw positive gains, along with other major firms like SK hynix and SK Innovation. The local currency, the won, weakened against the U.S. dollar, closing at 1,290 won, a decrease of 0.4 won from the previous session.