Seoul: Stocks, won close with biggest weekly gains in 2 months

[SEOUL] South Korean shares closed at a record high on Friday, ending the week with biggest gains since mid-March, as investment sentiment was by the central bank's upbeat outlook for the economy and Wall Street's strength overnight.

The Korea Composite Stock Price Index (Kospi) closed up 0.5 perc ent at 2,355.31 points versus 2,342.93 on Thursday, to post a 2.9 per cent gain for the week.

Offshore investors purchased a net 111.6 billion won (S$138.07 million) worth of Kospi shares.

The South Korean won edged down for the day, but still made its biggest weekly percentage gain since late March.

The won ended onshore trade at 1,120.7 per US dollar, down 0.4 per cent compared to Thursday's close of 1,116.5. The currency was up 0.6 per cent for the week.

REUTERS