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South Korea: Stocks end at record high on French election relief, won firmer

Monday, May 8, 2017 - 15:00

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[SEOUL] South Korean shares closed at a record high on Monday as centrist Emmanuel Macron's French presidential election win boosted risk appetite.

The Korea Composite Stock Price Index (KOSPI) ended up 2.30 per cent at 2,292.76 points, breaking an earlier record of 2,241.24 points hit on Thursday.

Market heavyweight Samsung Electronics gained 3.3 per cent to a record 2,351,000 won a share, while LG Electronics jumped 7.39 per cent to 77,000 won.

Foreign investors purchased a net 544.9 billion won (S$676 million) worth of KOSPI shares for the day.

The won was quoted at 1,131.4 to the dollar at the conclusion of onshore trade, up 0.11 per cent compared with Thursday's close of 1,132.7. The market was closed on Friday for a public holiday.

South Korean markets will be closed on Tuesday for the presidential election.

REUTERS

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