SEOUL, Nov. 4 (Yonhap) -- South Korean stocks closed slightly higher Wednesday as early results from the U.S. midterm elections pointed to Democratic victories in both chambers of Congress. The local currency was trading lower against the U.S. dollar.
Swinging between gains and losses, the benchmark Korea Composite Stock Price Index (KOSPI) finished at 5,683.80, up 35.01 points, or 0.62 percent.
After starting 2.43 percent higher, the KOSPI turned lower around 10:11 a.m. and fell as low as 5,421.72 at 12:45 p.m. as vote counting in the U.S. midterm elections progressed, before narrowing its losses and turning positive in the afternoon.
Early results pointed to Democrats regaining control of both the Senate and the House, raising the prospect of changes to key policies of the Trump administration, including tighter regulations on artificial intelligence (AI) data centers and support for renewable energy and secondary batteries.
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