Shares get lift from firmer yen and lower money rates

PUBLISHED : Thursday, 08 October, 1998, 12:00am
UPDATED : Thursday, 08 October, 1998, 12:00am

South Korean share prices closed higher after the Japanese yen strengthened and money-market rates continued easier.

Banks led the rally amid expectations of a relaxation in single-shareholder limits, while construction counters were bolstered by the lower rates.

The Korea Composite Index rose 5.24 points to settle at 313.49, off a high of 315.98.

Foreign investors were net buyers of shares worth about 7.8 billion won (HK$43.5 million), while institutions were net sellers of 9.6 billion won and retail investors were net sellers of 11.3 billion won of shares.

Among stocks, gainers led losers by 460 to 292, with 108 other counters unchanged.

Sixty-four shares closed limit-up and 17 issues ended limit-down.