Seoul: Shares post largest gain in 2 months; won falls

[SEOUL] South Korean shares posted their sharpest gain in two months on hopes that Greece's new budget proposals will be enough to avert a debt default and seal a reform deal with creditors.

The Korea Composite Stock Price Index (KOSPI) closed up 1.3 per cent at 2,081.20 points, its fastest daily percentage gain since April 23. The KOSPI has gained for a fifth consecutive session.

LG Display Co Ltd lost 4.7 per cent to 25,250 won, its lowest closing level since March 14, 2014, on worries of slow earnings due to declining prices of display panels.

The won ended local trade down 0.5 per cent at 1,104.6 to the dollar.

REUTERS