Seoul: Shares, won rise on hopes export slump is easing

[SEOUL] Seoul shares rose to a two-week high on Thursday as concerns over the state of the global economy eased slightly after better-than-expected economic data from South Korea and China.

The Korea Composite Stock Price Index (KOSPI) ended up 0.8 per cent at 1,979.32 points after gaining as much as 1.2 per cent to a two-week high.

Foreigners were net buyers for a second consecutive session, purchasing a net 105.1 billion won (S$127.56 million) of shares in the main board, preliminary data showed.

On the currency market, the South Korean won closed local trade up 0.8 per cent at 1,176.3 per dollar as sentiment improved on gains in Asian stock markets.

REUTERS