Seoul: Shares end higher on hopes of more global stimulus measures
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korean shares closed higher on Monday as risk sentiment improved after the Bank of Japan announced more stimulus steps, raising hopes of further policy support from other major central banks.
The KOSPI ended up 33.76 points, or 1.79 per cent, to 1,922.77 - its sharpest gain in more than a week.
Stock prices extended their gains (from midday) after the Japanese central bank's announcement of additional stimulus plans, DS Investment & Securities' analyst Na Jeong-hwan said, adding that investors now eye major central banks' monetary policy and GDP data announcements.
The Bank of Japan pledged to buy unlimited amounts of government bonds on Monday and investors now await outcomes from meetings of the US Federal Reserve and the European Central Bank later this week.
Foreigners were net buyers of US$37.10 million worth of shares on the main board, snapping five straight sessions of sell-offs.
The trading volume was 724.60 million shares. Of the total traded issues of 899, the number of advancing shares was 747.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
