April 9, 2014 / 6:12 AM / 3 years ago

S.Korean stocks edge up, won jumps to near 6-year high

(For the midday report, please click )

SEOUL, April 9 (Reuters) - Seoul shares inched up on Wednesday as steelmakers rallied on hopes of improving Chinese demand, but the won's rise to near six-year highs dented heavyweight exporters and capped the index.

The Korea Composite Stock Price Index (KOSPI) closed up 0.3 percent at 1,998.95 points.

Steelmaker POSCO gained 2.8 percent on hopes of stronger demand from China while automaker Hyundai Motor Co fell 2 percent on concerns over eroding price competitiveness on the won's rise.

The local currency was quoted at 1,041.4 against the dollar at the end of onshore trade, the strongest close since Aug. 14 2008, and up 1 percent from Tuesday's finish of 1,052.2.

Foreign investors bought a net 344.9 billion won ($327.7 million) worth of KOSPI shares, marking their 11th straight day of net buying and bringing the total net inflow to more than 2.5 trillion won during the period. ($1 = 1052.3500 Korean Won) (Reporting by Jungmin Jang; Editing by Shri Navaratnam)

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