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Seoul: Stocks rise, index closes at 8-month high on foreign buying

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[SEOUL] South Korean shares finished at their highest level in eight months on Tuesday on help of foreign investors' continued buying spree.

The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,027.34 points. This was the highest close since Nov. 26.

Offshore investors were net buyers for a 14th consecutive session. They bought a net 190.0 billion won (S$227.1 million) of Kospi shares on Tuesday.

The South Korean won changed courses and edged up as foreign monetary income through stock purchase and the exporters' dollar-selling increased the greenback supply in the market.

The won was quoted at 1,134.9 to the dollar at the conclusion of onshore trade, up 0.2 per cent compared to Monday's close of 1,137.0.

REUTERS