Seoul: Shares rise on oil rally, foreign buying; won flat

[SEOUL] Seoul shares rose on Thursday in line with regional peers, as investor appetite for riskier assets accelerated on a rally in oil prices.

The Korea Composite Stock Price Index (KOSPI) closed up 1.3 per cent at 1,908.84.

Foreign investors also helped the index, as they were net buyers, purchasing a net 93 billion won (S$106.3 million) worth of KOSPI shares on the main board, preliminary data showed.

The South Korean won ended local trade at 1,227.4 against the dollar, virtually unchanged from the previous close of 1,227.1.

South Korea's finance minister said on Thursday recent movements in the dollar-won exchange rate warrant close observation by the government and officials are ready to step in if movements become too exaggerated.

REUTERS