Seoul, April 17
South Korean stocks rose nearly 1 percent on Thursday as investors became optimistic about the ongoing trade talks between the United States and Japan. The local currency rose to a more than four-month high against the US dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) added 22.98 points, or 0.94 percent, to close at 2,470.41, rebounding from a 1.21 percent drop the previous day, reports news agency.
Trade volume was moderate at 589.6 million shares worth 6.5 trillion won ($4.58 billion), with winners beating losers 638 to 225.
Institutions purchased a net 346.2 billion won worth of stocks, while foreign and retail investors sold a net 351.9 billion won and 87.4 billion won, respectively.
Overnight, U.S. President Donald Trump said there was "big progress" in talks to strike a deal for Japan to avoid higher levies.
The Washington-Tokyo trade talks are expected to give indications regarding upcoming negotiations with other allies, including South Korea.