Seoul: Stocks end near 2-year high on Samsung Electronics rally; won calm
[SEOUL] South Korean shares brushed a 23-month high on Friday as market-heavy Samsung Electronics rallied to another record high, while foreign investors continued their buying-spree of local equities.
The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,164.58 points, the highest close since April 2015.
For the week, the index rose 3.2 per cent, its biggest weekly percentage gain since July 2016.
Samsung Electronics Co Ltd was up 1.3 per cent, marking the fifth straight session of gains.
Offshore investors have been stock buyers for 10 consecutive sessions, purchasing a net 251.63 billion won (S$314.36 million) worth of Kospi shares for the day.
The South Korean won was steady throughout the day, standing at 1,130.9 to the US dollar at the conclusion of onshore trade compared to Thursday's close of 1,132.0.
The local currency gained 2.3 per cent, marking the biggest weekly percentage gain since mid-July 2016.
REUTERS
KEYWORDS IN THIS ARTICLE
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
Hong Kong spot crypto ETFs to start trading next week
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%
Brokerage Haitong removes long-term Hong Kong unit chief Lin, appoints new head
Asia: Stocks rise on earnings optimism as US data approaches