Seoul: Stocks close at record high

[SEOUL] South Korean shares closed at an all-time high on Friday and the won edged up as strong risk-on sentiment returned following the Federal Reserve's cautious stance regarding future monetary tightening.

The Korea Composite Stock Price Index (Kospi) closed up 0.2 per cent at 2,414.63 points, its highest ever closing level.

The won was quoted at 1,133.3 to the US dollar at the conclusion of onshore trade, up 0.3 per cent compared with Thursday's close of 1,136.3.

The Kospi climbed 1.5 per cent this week, its biggest weekly gain since end-May.

The local currency jumped 1.9 per cent for the week, its biggest gain since mid-March.

Offshore investors were net sellers of local equities on Friday, offloading shares worth 10.7 billion won (S$13 million).

REUTERS