Seoul: Stocks rise on eased US policy uncertainty

[SEOUL] South Korea shares and the currency rose sharply on Thursday as minutes of the US Federal Open Market Committee's October meeting hinted at a coming increase in interest rates, helping to ease uncertainty surrounding its future policy.

The Korea Composite Stock Price Index (KOSPI) closed up 1.3 per cent at 1,988.91 points, its biggest daily percentage gain in two months.

Offshore investors were net sellers for an eighth consecutive session, although their net sales fell sharply to a preliminary 10.2 billion won (S$12.4 million) from about 140 billion won on Wednesday.

The won currency rose 0.9 per cent to close onshore trading at 1,161.7 per dollar, compared to Wednesday's close of 1,172.2.

REUTERS