Seoul: Stocks close near 9-month high on trade deal optimism

[SEOUL] South Korean shares ended at a near nine-month high on Monday as the US and China prepare to sign the Phase 1 trade deal, while improved earnings outlook for South Korean chipmakers aided sentiment.

During the session, the won hit a more than six-month high against the US dollar, while it scaled to its strongest since early-May last year against the Japanese yen. The benchmark bond yield also rose.

The Kospi closed up 22.87 points, or 1.04 per cent, at 2,229.26 - its highest close since April 17, 2019.