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Seoul: Shares post best day in 20 months; won also gains
[SEOUL] South Korean shares had their best day in 20 months on Tuesday on speculation that the weaker-than-expected US data will prompt the Federal Reserve to be cautious in considering an early interest rate hike.
The benchmark Korean Composite Stock Price Index (KOSPI) closed up 2.14 per cent at 2,029.91 points, the fastest daily percentage gain since July 11, 2013. The closing level hit the highest since Sept 26, 2014.
The won also gained on heavy foreign purchases of local shares, finishing onshore trade at 1,128.9 per dollar, up 0.23 per cent from the previous close of 1,131.5.