Seoul: Stocks close at six-year high on strong exports, won firms
[SEOUL] South Korean shares ended at a six-year closing high on Tuesday, bolstered by the country's exports, which grew at their fastest rate since 2011, increasing demand for local stocks.
The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,219.67 points, the highest since May 2, 2011.
Foreign investors purchased a net 131.9 billion won (S$160.6 million) worth of Kospi shares during the session.
South Korean markets were closed on Monday for a public holiday, with investors reacting to the strong trade data on Tuesday.
The South Korean won also climbed on large volumes of stock purchases and exporters' US dollar-selling that was postponed from end-April.
The won was quoted at 1,130.5 to the US dollar at the conclusion of onshore trade, up 0.7 per cent compared to Friday's close of 1,137.9.
South Korean markets will also be closed on Wednesday and Friday due to national holiday.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data