Seoul: Shares rise after Iran deal, won flat

[SEOUL] Seoul shares rose on Wednesday as builders led gains on expectations for increasing orders from Iran after Tehran and world powers reached a nuclear deal, bolstered by foreign buying in the main board.

The Korea Composite Stock Price Index (KOSPI) was up 0.7 per cent at 2,072.91 points from the previous close of 2,059.23.

Foreigners purchased a net 230.2 billion won (S$274.2 million), preliminary data showed.

The won closed local trade at 1,143.6 against the dollar, barely changed from the previous close at 1,142.6 ahead of Federal Reserve Chair Janet Yellen's semi-annual testimony on monetary policy later in the global day.

REUTERS