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Seoul: Shares gain 2 per cent; tracking Wall Street, Europe rallies
[SEOUL] Seoul shares rose 2 per cent on Wednesday morning as risk sentiment improved following Wall Street and European rallies overnight and on hopes for additional stimulus from China after lukewarm import data.
Set to break a three-day losing streak, the Korea Composite Stock Price Index (KOSPI) gained as much as 2 per cent to 1,916.52 points. Winners outnumbered losers by 8 to 1.
Data showed on Tuesday that China's imports shrank far more than expected in August, while exports fell less than expected.