Purchases of institutional participants move Seoul forward

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Seoul, October 22nd (EFE) .- Seoul's stock exchange has grown today thanks to the good appetite of institutional investors, encouraged in turn by the good day today in the Chinese stock exchanges, according to local analysts.

The Kospi indicator of the South Korean market closed today with an increase of 5.45 points, 0.25 percent, reaching 2161.71 units.

For its part, the Kosdaq index of technological values ​​advanced 3.62 points, 0.49 percent, to 744.10 points.

Institutional investors today realized about 44.9 billion won in local shares (about 34.4 million euros / 39.7 million dollars), a fundamental impulse for the increase in selectivity.

In this sense, local economists point out, the key was the strong progress made today in the Shanghai and Shenzhen stock exchanges, which closed with increases of 4.09 and 4.89% respectively.

The main South Korean car manufacturer, Hyundai Motor, today appreciated 2.16%, while the largest national chemical company, LG Chem, has improved its price by 2.27%.

In contrast, Samsung Electronics, the Kospi benchmark, fell 0.8 percent and chip maker SK Hynix, the second-highest capital of Seoul, reduced its value by 1.133 percent.

The Korean currency recovered 3.7 against the dollar, which was quoted at 1,128.4 won at the end of today's operations.

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