Seoul: Shares gain 1.9% on the week, best since April 17

[SEOUL] South Korean shares rallied on Friday as another set of tepid US economic data virtually put paid to any lingering chance of Federal Reserve starting its rate-tightening cycle as early as in June.

The Korea Composite Stock Price Index (KOSPI) ended up 1.1 per cent at 2,146.10 points, the sharpest daily gain in a month. It gained 1.9 per cent on a weekly basis, the biggest since April 17.

The South Korean won closed local trade up 0.4 per cent at 1,090.1 against the dollar from the previous close at 1,094.0, but the won fell 0.4 per cent on the week.

REUTERS