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S Korea: Stocks jump on bargain-hunting after MSCI EM rebalance

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South Korean shares rose more than 1 per cent on Monday as the won's bounce-back eased concerns about possible capital flight, and as investors hunted for bargains on perception that blue chips have been oversold in the wake of weightage changes in MSCI indexes.

[SEOUL]  South Korean shares rose more than 1 per cent on Monday as the won's bounce-back eased concerns about possible capital flight, and as investors hunted for bargains on perception that blue chips have been oversold in the wake of weightage changes in MSCI indexes.

The Seoul stock market's main KOSPI index ended up 26.11 points, or 1.28 per cent, at 2,067.85 points.

The KOSPI has risen 1.31 per cent so far this year, but has lost 9.1 per cent in the previous 30 trading sessions.

The trading volume during the session on the KOSPI index was 381.01 million shares and, of the total traded issues of 894, the number of advancing shares was 401.

REUTERS

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