Seoul shares end higher on hopes of U.S.-China trade deal

SEOUL, Feb. 18 (Yonhap) -- South Korean shares ended higher Monday as institutions turned net buyers amid hopes of a U.S.-China trade deal being reached. The won rose against the dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.80 points, or 0.67 percent, to 2,210.89. Trading volume was moderate at 309.2 million shares worth 4.56 trillion won (US$4.05 billion), with gainers outnumbering decliners 517 to 303.

Institutional and foreign investors bought a combined 312 billion won worth of stocks, offsetting individuals' net selling, which was valued at 323 billion won.

Investors expect the negotiations between the U.S. and China in Washington this week to help resolve the bilateral trade war ahead of the March 1 deadline, analysts said. They said such expectations are forecast to boost the main index. Trade talks between the world's two biggest economies reportedly made good headway.

Tech stocks led gains, with market bellwether Samsung Electronics Co. rose 0.33 percent to 46,200 won, and No. 2 chipmaker SK hynix Inc. advanced 1.22 percent to 74,700 won.

Among decliners, top carmaker Hyundai Motor Co. fell 0.41 percent and leading steelmaker POSCO declined 1.13 percent to 262,500 won.

The local currency closed at 1,125.80 won against the U.S. dollar, up 2.90 won from Friday's close.

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