Seoul: Shares end at over 2-year high on Biden victory
[SEOUL] South Korean shares closed at their highest level in more than two years on Monday, tracking strength in global risk assets on expectations of fewer regulatory reforms and more stimulus under a Joe Biden presidency.
The benchmark Kospi ended up 30.70 points, or 1.27 per cent, at 2,447.20. The index extended gains to a sixth consecutive session.
"Biden's US election victory eased political uncertainties and fuelled stimulus hopes, lifting global shares ... China's upbeat data added to the sentiment," said Daishin Securities' analyst Lee Kyoung-min.
China's exports grew at the fastest pace in 19 months in October, beating forecasts, while imports also continued to rise, official data showed on Saturday.
Foreigners were net buyers of US$294.87 million worth of shares on the main board.
REUTERS
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%