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Seoul: Stocks end at more than 1-year high, won jumps

Monday, September 5, 2016 - 14:56

[SEOUL] South Korean shares and won jumped on Monday as weaker-than-expected US jobs data lowered the chances the Federal Reserve would raise interest rates in September.

The Korea Composite Stock Price Index (Kospi) closed up 1.1 per cent at 2,060.10 points, its strongest since July 23, 2015.

The won ended at a three-week high against the US dollar and was quoted at 1,105.1 at the conclusion of onshore trade. It was up 1.1 per cent compared with Friday's close of 1,117.2, marking its highest level since Aug 16.

Foreign investors bought a net 270.8 billion won (S$333 million) worth of Kospi shares for the day.

REUTERS