Seoul: South Korean shares climb to 2-week high on Fed-fueled global rally; won firmer

[SEOUL] South Korean shares rose to a 2-week high on Monday as they extended gains in afternoon trade, thanks to a broad rally in global markets on the back of last week's upbeat assessment on the US economy by the Federal Reserve.

The Korea Composite Stock Price Index (KOSPI) gained 0.7 per cent to close at 1,943.12 points.

The South Korean won firmed against the dollar, as investors squared positions and exporters sold the greenback for settlements ahead of the year-end.

The local currency was quoted at 1,096.2 on the dollar at the conclusion of onshore trade, compared to Friday's close of 1,102.0.

REUTERS