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Seoul: Won, stocks end a positive week at multi-weeks' highs

Friday, July 15, 2016 - 14:40
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[SEOUL] The South Korean won ended at its highest in nearly three months and stocks at a five-week peak on Friday as data from the world's biggest economy and expectations on Bank of England's easing in August boosted risk appetites.

The won was quoted at 1,133.9 to the US dollar at the conclusion of onshore trade, its strongest since April 21. It was up 0.3 per cent compared to Thursday's close of 1,137.4.

For the week, the currency rose 2.5 per cent.

The Korea Composite Stock Price Index (Kospi) ended the day up 0.4 per cent at 2,017.26 points, its highest close since June 10.

Shares gained 2.8 per cent for the week.

Offshore investors have been net buyers of Kospi shares for seven straight sessions. On Friday, net purchases were 486.3 billion won (S$576.9 million).

Tech giant Samsung Electronics Co Ltd rose 1.2 per cent after saying it is in talks to acquire a stake in Chinese automaker BYD to boost its chip business for electric cars.

REUTERS