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Seoul: Stocks mark 8th week of gains; up over 17% so far this year
[SEOUL] South Korean shares closed at all-time highs on Friday, expanding their year-to-date gains to over 17 per cent on hopes for better earnings in the technology and brokerage sectors.
The Korea Composite Stock Price Index (Kospi) closed up 0.8 per cent at 2,381.69 points, its highest-ever level.
The index marked eight straight weeks of gains, the longest such run since end-April, 2010.
Foreign investors turned net buyers, purchasing 146.7 billion won's (S$180.64 million) worth of Kospi shares for the day.
The South Korean won was quoted at 1,123.2 to the US dollar at the conclusion of onshore trade, steady compared to Thursday's close of 1,122.1.
The currency ended the week slightly weaker.