South Korean shares closed nearly flat Thursday amid signs of cooling US inflation. The local currency gained ground against the US dollar.

After choppy trading, the benchmark Korea Composite Stock Price Index added 1.51 points, or 0.06 percent, to close at 2,488.18.

Trade volume was slim at 401.6 million shares worth 6.61 trillion won ($5.09 billion), with gainers outnumbering loser 546 to 311.

Foreigners purchased a net 458 billion won worth of local shares while institutions offloaded a net 62.4 billion won. Individual investors net sold 394.4 billion won worth of shares.

The Kospi opened a tad higher, tracking overnight gains on Wall Street following reports of a lower-than-expected US producer price index in October, one day after the United States registered the slowest increase in consumer prices in the same month since 2021.

"The slowing of inflation, which has long provided the basis for tight monetary policy, helped reinforce beliefs that the US Fed's rate hikes have in fact ended, creating an upward momentum for the stock market," said Hwang Joon-ho, an analyst at SangSangIn Investment & Securities.

Seoul shares closed mixed.

Market bellwether Samsung Electronics gained 0.83 percent to 72,800 won, while leading battery maker LG Energy Solution fell 1.99 percent to 442,500 won.

Top automaker Hyundai Motor advanced 1.26 percent to 184,800 won, with its smaller affiliate Kia surging 3.68 percent to 84,500 won.

Top portal operator Naver lost 1.22 percent to 203,000 won, with top mobile carrier SK Telecom slipping 0.39 percent to 51,100 won.

The local currency closed at 1,296.90 won per dollar, up 3.90 won from the previous session's close. (Yonhap)

• ·Spike in camping enthusiasts in Korea, yet camping etiquette lags behind
• ·Prosecutors seek 30
• ·Number of youth addicted to online gambling rises
• ·Rising political stars, big names likely to run for 2024 general election
• ·Labor unions slam government efforts to attract more foreign workers
• ·S. Korean literary giant Jo Jung
• ·Jungkook holds live stage event for fans
• ·North notifies of satellite launch amid concerns
• ·Yoon orders increased defense of public digital infrastructure
• ·Seoul shares open lower on Fed minutes, Nvidia results
• ·E. coli found in Echire butter
• ·Meritz carries out reshuffle for group synergy
• ·Labor unions slam government efforts to attract more foreign workers
• ·South Korea’s digital reputation dented by government network outage
• ·Priciest elite private high school costs over W30m a year
• ·North notifies of satellite launch amid concerns