Seoul: Shares gain most in 3 weeks on recovery hopes, fresh stimulus support

[SEOUL] South Korean shares jumped nearly 1.7 per cent on Monday, rising for a third straight session with the sharpest daily gain in three weeks, as sentiment boosted on economic recovery hopes and the country's fresh stimulus measures.

The Seoul stock market's main Kospi closed up 35.52 points, or 1.65 per cent, at 2,187.93, marking the sharpest daily percentage gain since June 16.

Risk appetite remained firm after last week's data showed that US economy created jobs at a record clip in June and China's services sector expanded at the fastest pace in over a decade, eclipsing worries of rising coronavirus cases in the United States.

Foreigners were net sellers of US$216.28 million worth of shares on the main board.

REUTERS