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Seoul: Stocks, won end higher on Wall Street gains, Samsung Elec
[SEOUL] South Korean shares posted their biggest gain in nearly four weeks on Tuesday, thanks to a rebound in appetite for riskier assets after Wall Street rose overnight and tempered fears of contagion over a political crisis in Italy.
The Korea Composite Stock Price Index (Kospi) closed up 1.35 per cent at 1,989.86 points, making the biggest jump since November 10 when the index closed up 2.3 per cent.
Samsung Electronics reached an all-time intraday trading high of 1,760,000 won before closing up 1.75 per cent at 1,748,000 won as Samsung Group leader Jay Y Lee appeared at a parliamentary hearing and said he was willing to take all responsibility related to the current influence peddling scandal.
The won was quoted at 1,171.4 to the US dollar at the conclusion of onshore trade, up 0.27 per cent compared to Monday's close of 1,174.6.