Seoul: Shares hit 2-mth high on resurgent risk appetite; won rallies

[SEOUL] South Korean shares hit a two-month high on Wednesday, as risk appetites were rejuvenated by Greece's proposal to end a debt stand-off with its creditors plus resurgent oil prices.

The Korea Composite Stock Price Index (KOSPI) climbed 0.55 per cent to finish at 1,962.79 points, its highest closing since Dec 10 and pulling near to the KOSPI's 120-day moving average of 1,972.30 points.

The South Korean won rose more than 1 per cent against the dollar on Wednesday, as lacklustre US data and the rally in oil prices weighed on the greenback and triggered heavy stop-loss selling.

The local currency was quoted at 1,084.1 to the dollar at the conclusion of onshore trade, compared to 1,097.4 at the end of Tuesday's session.

REUTERS