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Seoul: Stocks end near 6-year high, won edges up
[SEOUL] South Korean shares ended at their highest in six years on Wednesday, as strong first-quarter earnings boosted investment sentiment and raised expectations for further price gains.
The Korea Composite Stock Price Index (Kospi) closed up 0.5 per cent at 2,207.84 points, the strongest level since May 2, 2011.
Offshore investors have been net stock buyers for five consecutive sessions, purchasing 293.2 billion won (S$361.8 million) worth of Kospi shares for Wednesday.
The South Korean won ended a tick firmer, erasing earlier losses, on high demand for the currency due to the large amount of stock purchases.
The won was quoted at 1,125.1 to the US dollar at the conclusion of onshore trade, compared to Tuesday's close of 1,125.4.