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Seoul: Stocks, won close higher and advance for the week

Friday, August 5, 2016 - 15:14

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[SEOUL] South Korean shares and won rose on Friday on the Bank of England's rate cut and large stimulus moves.

The Korea Composite Stock Price Index (Kospi) closed up 0.9 per cent at 2,017.94 points. That allowed the benchmark to show a gain for the week, of 0.1 per cent.

The won was quoted at 1,110.4 to the dollar at the conclusion of onshore trade, up 0.3 per cent compared to Thursday's close of 1,114.0.

For the week, the won rose 0.8 per cent.

Foreign investors accelerated their stock-buying near the end of Friday's session, purchasing a net 255.0 billion won (S$306.2 million) of Kospi shares.

REUTERS

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