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Seoul: Stocks rise to a 3-1/2-week high; won dips

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South Korean shares rose to a three-and-a-half-week high on Monday, as weak China manufacturing activity survey and grim domestic exports data were partially offset by foreign buying of equities.

[SEOUL] South Korean shares rose to a three-and-a-half-week high on Monday, as weak China manufacturing activity survey and grim domestic exports data were partially offset by foreign buying of equities.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 per cent at 1,924.82, its highest closing level since Jan. 7.

Foreign investors bought a net 185.2 billion won (S$219.83 million) worth of shares, preliminary data showed.

The South Korean won eased against the dollar in line with weaker yuan following soft China manufacturing survey.

The won ended local trade down 0.1 per cent at 1,200.5 per dollar after falling as much as 1 per cent to 1,210.8 in early morning trade.

Its losses were cut by exporters' demand for settlements and on risks of intervention by foreign exchange authorities.

REUTERS

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