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Seoul: Shares, won climb on better-than-expected China trade data

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South Korean shares rose on Wednesday, as investors bought beaten-down shares and better than expected trade data from China, South Korea's biggest trading partner, boosted market sentiment.

[SEOUL] South Korean shares rose on Wednesday, as investors bought beaten-down shares and better than expected trade data from China, South Korea's biggest trading partner, boosted market sentiment.

The Korea Composite Stock Price Index (KOSPI) ended up 1.3 per cent at 1,916.28 points. It posted biggest daily per centage gain since December 16, 2015.

Local institutions bucked the broader market, as they purchased a net 226 billion won (S$269.3 million) worth of shares. Meanwhile, foreigners sold a net 55.8 billion won worth of shares on the main board, preliminary data showed.

The South Korean won was quoted at 1,204.0 to the dollar at the conclusion of onshore trade, up 0.5 per cent compared to Tuesday's close of 1,210.3.

REUTERS

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