[SEOUL] South Korean shares bounced back from earlier losses to end higher on Wednesday, boosted by retail investors, although investors were cautious on surging coronavirus cases globally and uncertainty ahead of the US election. Both the won and the benchmark bond yield weakened.
The Kospi jumped 14.42 points or 0.62 per cent to close at 2,345.26, after declining as much as 0.6 per cent to its lowest since Sept 28 earlier in the session. South Korea reported 103 new coronavirus cases as of Tuesday midnight, more than 88 a day earlier, while European governments moved to impose new curbs.
US President Donald Trump said on Tuesday an economic relief package would likely come after the Nov 3 election. "Volatility will likely remain high ahead of the US election. Surging infections in Europe and the United States are also worrisome," said DS Investment & Securities' analyst Na Jeong-hwan, adding gains were mainly led by retail investors.
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