[SEOUL] South Korean shares recouped all losses to close almost unchanged on Friday, finishing the week with a gain of over 1 per cent, as more buying by retail investors offset weakness due to a rout in US tech stocks and a rise in domestic cases of Covid-19.The benchmark Kospi closed up 0.21 point or 0.01 per cent at 2,396.69, after falling as much as 0.9 per cent during the session. For the week, the index gained 1.2 per cent.
"The Kospi traded steadily despite rising volatility in US stocks... Investor sentiment remains weak, but the trend of active buying by retail investors continued to limit further losses," said Kiwoom Securities' analyst Seo Sang-young. Retail investors looked past a slight uptick in daily cases of Covid-19 reported on Friday, buying 451.2 billion won worth of shares on the main board. Foreigners sold around 165.4 billion won worth of equities.
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