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Seoul: Shares touch 1-mth high on Greece relief; won steady

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[SEOUL] South Korean shares powered to a 1-month high on Tuesday as relief set in that European markets had emerged unscathed from Greece's election results, with the possibility of a Greek exit from the euro zone seen to be highly remote.

The Korea Composite Stock Price Index (KOSPI) climbed 0.86 per cent to close at 1,952.40 points, going above the index's 60-day moving average.

The South Korean won closed nearly unchanged against the dollar after a rangebound trading session, with investors reluctant to take clear positions ahead of the US Federal Reserve's two-day policy meeting due to start later in the day.

The local currency was quoted at 1,079.8 to the dollar at the conclusion of onshore trade, compared to 1,080.8 seen at the end of Monday's session.

REUTERS

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