Seoul: Stocks end firmer, won retreats; both post weekly gains

[SEOUL] South Korean shares ended higher on Friday, led by market heavyweight Samsung Electronics after it released surprisingly positive earnings guidance earlier in the session.

The Korea Composite Stock Price Index (Kospi) closed 0.4 per cent higher at 2,049.12. It gained 1.1 per cent on the week.

Foreign investors net bought shares for the eighth consecutive session. They bought a net 171 billion won (S$205.2 million) worth equities on Friday.

The South Korean won slipped after seeing sharp gains in the previous session. It stood at 1,193.0 to the US dollar at the conclusion of onshore trade, down 0.6 per cent compared with Thursday's close of 1,186.3.

The currency however rose 1.2 per cent on a weekly basis, its biggest weekly per centage gain in 15 weeks.

REUTERS