Seoul: Stocks up at 3-week high on foreign demand, won rises further

[SEOUL] South Korean shares ended near three-week highs on Friday, supported by strong foreign buying.

The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,165.04 points, the strongest since April 3.

Offshore investors purchased a net 241.4 billion won (S$297.81 million) worth of Kospi shares.

The South Korean won extended rise to a one-week high following foreign investors' stock purchases, but trading was thin ahead of the first round of the French presidential election slated for April 23.

The won was quoted at 1,134.4 to the US dollar at the conclusion of onshore trade, up 0.5 per cent versus Thursday's close of 1,139.8.

For the week, the Kospi gained 1.4 per cent, snapping past three straight weeks of losses. The won gained 0.5 per cent, its biggest weekly percentage gain in four weeks.

REUTERS