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Seoul: Shares close at highest in nearly 2 mths as Samsung Electronics soars; won up


[SEOUL] Seoul shares closed on Wednesday at their highest in nearly two months, as market heavyweight Samsung Electronics surged following better-than-expected earnings guidance for its July-September period.

The Korea Composite Stock Price Index (KOSPI) ended up 0.8 per cent at 2,005.85 points, the highest closing level since Aug 10.

Tech giant Samsung Electronics Co Ltd, which makes up 14.6 per cent of the KOSPI's market value, closed up 8.7 per cent at 1.251 million won, marking the biggest daily percentage gain since Jan 28, 2009.

Foreigners turned net buyers, with 89 billion won (S$108.7 million) worth of shares on the main board, preliminary data showed.

The South Korean won closed local trade up 0.4 per cent at 1,161.3 per dollar on foreign buying in domestic equities, marking the strongest intraday level since Aug 11.