South Korea: Stocks rise on trade optimism, China lending rate cut

[SEOUL] South Korean shares climbed on Friday, extending gains into an eleventh session, as negotiators from the United States and China resumed talks and China cut its new loan rate for a second month.

The Seoul stock market's main KOSPI ended up 11.17 points, or 0.54 per cent, at 2,091.52. It gained 2 per cent in the week, its fifth straight weekly advance.

Foreigners were net buyers of US$36.77 million worth of shares on the main board.

The KOSPI has risen 2.47 per cent so far this year, and gained 6.9 per cent in the previous 30 trading sessions.

The trading volume during the session in the KOSPI index was 577.24 million shares and, of the total traded issues of 894, the number of advancing shares was 492.

REUTERS