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Seoul: Stocks close at 5-mth high on offshore demand

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[SEOUL] South Korean shares rose to their highest close in five months on Friday as foreigners snapped up stocks ahead of the European Central Bank's bond-buying stimulus programme set to start next week.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 per cent at 2,012.94 points, notching its seventh straight week of gains on a weekly basis.

For the week, the KOSPI rose 1.4 per cent.

The South Korean won climbed against the dollar on improved appetite for risk, but broad strength in the greenback held back gains.

The local currency was quoted at 1,098.7 to the dollar at the conclusion of onshore trade, up 0.2 per cent compared to Thursday's close of 1,101.3.

REUTERS

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