SEOUL Jan 7 South Korean shares ended higher on
Tuesday, buoyed by bargain hunting and foreign inflows as the
won's retreat against the yen and the dollar eased
fears about local exporters' earnings prospects.
The Korea Composite Stock Price Index (Kospi) closed
up 0.3 percent at 1,959.44 points.
Foreigners were net buyers of 100.3 billion won of local
stocks on Tuesday, marking the second straight day of inflows.
Shares of automaker Kia Motors Corp. rose 2.9
percent on easing worries about the carmaker's profitability as
the won retreated against its Japanese counterpart.
Shipbuilders Daewoo Shipbuilding & Marine Engineering Co.
and Samsung Heavy Industries Co. gained
4.1 percent each on bets that their earnings will improve in
line with the global economic recovery expected this year.
Samsung Electronics Co.'s shares fell 0.2
percent, however, after the firm's fourth-quarter earnings
estimates announced earlier on Tuesday came in well below market
(Reporting by Se Young Lee; Editing by Kim Coghill)