Seoul: Stocks end higher on trade bloc news
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[SEOUL] South Korean shares closed at their highest level in more than two-and-a-half years on Monday, as foreigners snapped up local shares on positive sentiment brought by the formation of a regional trade bloc.
The benchmark Kospi ended 49.16 points, or 1.97 per cent, higher at 2,543.03, its highest since February 2018.
Foreigners were net buyers of US$415.20 million worth of shares on the main board.
Fifteen Asia-Pacific economies formed the world's largest free trade bloc on Sunday, a China-backed deal that excludes the United States, which had left a rival Asia-Pacific grouping under President Donald Trump.
The trading volume was 1,222.65 million shares. Of the total traded issues of 905, the number of advancing shares was 550.
REUTERS
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