S. Korean shares rise on foreign buying

South Korean shares rose on Friday as foreign investors continued to buy local stocks amid a surge in government bond yields in major economies.The benchmark Korea Composite Stock Price Index (KOSPI) rose 0. 95 points, or 0.05 percent, to close at 2,001.05. Trading volume stood at 390.92 million shares worth 5.27 trillion won (4.67 billion U.S. dollars).Market watchers said a sharp gain in government bond yields in major economies helped foreign investors turn their eyes to the local stock market as the yield rise boosted investors' demand for risk assets such as stocks.Clawfoot tub faucetsExpectations for the earlier-than-expected end of quantitative easing in the United States lifted the yield on the 10-year U.tyre equipmentsS. Treasury bond by around 50 basis points over the past month.Aggressive monetary easing in Japan raised the Japanese Government Bond (JGB) yields sharply recently, boosting fears over the possible fiscal crisis in the neighboring country and driving down the Japanese stocks sharply.Foreign funds increased their holdings of stocks by 160.6 billion won, keeping their buying streak for the third consecutive session. Institutional investors purchased shares worth 45.Vintage tubs9 billion won, while retail investors sold shares worth 207.6 billion won in a bid to lock in profits. 

Program-linked transactions led the KOSPI to trim earlier gains. Net non-arbitrage selling through program-linked trade reached 211. 9 billion won,carbon sheet while arbitrage transactions posted a net buying worth 11.2 billion won.Large-cap shares ended mixed. Leading chemical firm LG Chem jumped 4.2 percent, and top automaker Hyundai Motor advanced 1.4 percent. Memory chip giant SK Hynix rose 1.1 percent, and the nation's No. 1 mobile operator SK Telecom gained 2.4 percent.The state-run power supplier Korea Electric Power Corp. declined 2.5 percent, and market bellwether Samsung Electronics slid 0.4 percent. Top steelmaker POSCO retreated 0.8 percent, and leading banking group KG Financial Group lost 1.5 percent.The local currency finished at 1,129.7 won against the greenback, down 2.3 won from Thursday's close.Bond prices ended lower. The yield on the liquid three-year treasury notes rose 0.03 percentage point to 2.78 percent,vacuum bottle and the return on the benchmark five-year government bonds gained 0.05 percentage point to 2.90 percent.