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Seoul: Stocks end at 1-week high, won up on exporters' US dollar sales

Wednesday, May 25, 2016 - 14:26

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[SEOUL] South Korean shares rose on Wednesday as investors cheered strong US data that drove Wall Street higher and boosted risk appetite.

The Korea Composite Stock Price Index (KOSPI) closed up 1.2 per cent at 1,960.51 points, its highest level in a week.

Foreign investors underpinned the market, purchasing a net 124 billion won (S$144.79 million) worth of KOSPI shares.

In the currency market, the won built on early gains as exporters sold US dollars near month-end.

The won was quoted at 1,182.5 to the US dollar at the conclusion of onshore trade, up 0.9 per cent compared to Tuesday's close of 1,912.7.

REUTERS

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