Seoul: Shares, won climb on better-than-expected China trade data
[SEOUL] South Korean shares rose on Wednesday, as investors bought beaten-down shares and better than expected trade data from China, South Korea's biggest trading partner, boosted market sentiment.
The Korea Composite Stock Price Index (KOSPI) ended up 1.3 per cent at 1,916.28 points. It posted biggest daily per centage gain since December 16, 2015.
Local institutions bucked the broader market, as they purchased a net 226 billion won (S$269.3 million) worth of shares. Meanwhile, foreigners sold a net 55.8 billion won worth of shares on the main board, preliminary data showed.
The South Korean won was quoted at 1,204.0 to the dollar at the conclusion of onshore trade, up 0.5 per cent compared to Tuesday's close of 1,210.3.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data