Seoul: Shares hit 2-1/2 mth high on Greece relief; won falls

[SEOUL] South Korean shares scaled a 2-1/2 month peak on Monday as investors were relieved by a compromise deal between Greece and its creditors that prevented the debt-strapped nation from defaulting.

The Korea Composite Stock Price Index (KOSPI) rose 0.35 per cent to finish at 1,968.39 points, its highest closing level since December 9.

The South Korean won stumbled against the dollar on Monday, as investors played catch-up to falls in the local currency's offshore rate during an extended holiday break for domestic markets.

The won was quoted at 1,108.7 to the dollar at the conclusion of onshore trade, compared to the previous session close of 1,101.8 last Tuesday.

The South Korean financial markets were closed from Wednesday through Friday last week for the Lunar New Year holidays.

REUTERS