[DigitalToday reporter Sangyeop Oh] South Korea's KOSPI closed more than 1 percent higher on institutional buying, settling above 5,640. The Kosdaq, however, turned lower during the session and ended slightly down.

On March 17, the KOSPI closed at 5,640.48, up 90.63 points, or 1.63 percent, from the previous session. The index opened at 5,711.80, up 161.95 points, or 2.92 percent, but gave up part of its gains in the afternoon to finish around the 5,640 level.

By investor type, institutions were the only net buyers, purchasing 736.0 billion won, supporting the index. Individuals and foreigners were net sellers of 570.8 billion won and 177.5 billion won, respectively.

Top market-cap stocks were mixed.

Market heavyweight Samsung Electronics ended at 193,900 won, up 5,200 won, or 2.76 percent, from the previous session. Automakers Hyundai Motor and Kia rose 3.16 percent and 3.27 percent, respectively, while LG Energy Solution gained 3.96 percent, SK Square rose 4.45 percent and Samsung Biologics added 1.21 percent.

SK Hynix fell 4,000 won, or 0.41 percent, to end at 970,000 won. Hanwha Aerospace, down 5.42 percent, and Doosan Enerbility, down 1.23 percent, also finished lower.

The Kosdaq closed at 1,136.94, down 1.35 points, or 0.12 percent, from the previous session. The Kosdaq rose early but turned lower late in the session to end slightly weaker.

In the Seoul foreign exchange market, the won was trading at 1,492.60 per dollar, down 1.10 won, or 0.07 percent, from the previous session.