[SEOUL] South Korean shares closed up at a record high on Thursday, posting their longest weekly rally in 3-1/2 years, as a likely Brexit trade deal soothed investors in thin trading ahead of Christmas holidays.

The benchmark Kospi rose 47.04 points, or 1.70 per cent, to 2,806.86. For the week, the index logged an eighth straight gain, its longest weekly rally since mid-2017.

Foreigners were net buyers of US$101.14 million worth of shares on the main board.

The Kospi has risen 27.72 per cent so far this year, gaining 11.0 per cent in the previous 30 trading sessions.

The South Korean market will be closed on Friday for Christmas.

REUTERS

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