(LEAD) Seoul stocks up for 4th day on foreign buying

lead seoul stocks up for 4th day on foreign buying

Sumary of (LEAD) Seoul stocks up for 4th day on foreign buying:

  • 15 (Yonhap) — South Korean stocks advanced for a fourth session Wednesday, supported by foreign buying, as some investors sought to digest the weak inflation data in the United States.
  • The benchmark Korea Composite Stock Price Index (KOSPI) added 4.57 points, or 0.15 percent, to close at 3,153.4 points.
  • The KOSPI opened higher as bargain hunters sought oversold stocks on expectations of a future price hike.
  • South Korea’s job growth slowed for the fourth straight month in August, largely due to the latest surge in COVID-19 cases and the toughest-ever virus curbs.
  • During the same month, U.S. consumer prices also showed the smallest gain in seven months, fanning concerns of a slowing economic recovery.
  • “The weaker-than-expected consumer price in August turned out positive for the KOSPI by easing market worries about an early U.S. tapering,” Mirae Asset Securities analyst Park Gwang-nam said.

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