SEOUL-- South Korean stocks inched up Tuesday after a choppy session as investors took a wait-and-see stance without clear directions. The Korean won fell against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.47 points, or 0.02 percent, to close at 2,989.24 points.

Trading volume was moderate at about 615 million shares worth some 9.9 trillion won (US$8.3 billion), with gainers outnumbering losers 506 to 339.

Foreigners bought a net 94 billion won, and retail investors purchased 643 billion won, while institutions offloaded 747 billion won.

The KOSPI opened slightly lower, with investors testing the waters amid uncertainty over the impact of the coronavirus and omicron variant on health and the economy.

The key stock index lost ground in the late morning, tracking a general downturn in the Asian stock markets, including China and Hong Kong, but swung to positive terrain as the market closed.

"The KOSPI fared weak in the morning on institutions' profit-taking. Additionally, a rise in the long-term bond yields in the United States and appreciating U.S. dollar caused foreign investors to limit their buying of local stocks," Kiwoom Securities analyst Kim Sae-hun said.

"The KOSPI gained ground intraday amid expectations of global economic recovery and China's better-than-expected manufacturing purchasing manager's index (PMI)," he added.

Market bellwether Samsung Electronics edged up 0.13 percent to 78,700 won, and No. 2 chipmaker SK hynix closed unchanged at 128,500 won.

Internet portal operator Naver plunged 2.79 percent to 365,500 won, and pharmaceutical giant Samsung Biologics lost 2.52 percent to 888,000 won. Leading automaker Hyundai Motor inched down 0.24 percent to 210,000 won.

Among gainers, electric car battery maker LG Chem jumped 4.21 percent to 644,000 won, and steelmaker POSCO increased 2.32 percent to 286,500 won.

The local currency closed at 1,194.1 won to the U.S. dollar, down 2.3 won from the previous session's close.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 1.3 basis points to 1.868 percent, and the return on the benchmark five-year government bond rose 1.1 basis points to 2.091 percent.

Source: Yonhap News Agency