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Seoul: Stocks surge on trade optimism, growing rate cut bets

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South Korean shares jumped nearly 2 per cent  on Friday as the United States and China looked set to restart their trade talks, while the Bank of Korea indicated that a rate cut was around the corner. 

[SEOUL] South Korean shares jumped nearly 2 per cent  on Friday as the United States and China looked set to restart their trade talks, while the Bank of Korea indicated that a rate cut was around the corner. 

The Seoul stock market's main KOSPI closed up 34.38 points or 1.78 per cent at 1,967.79 points, after soaring as much as 1.96 per cent in early trade.

For the week, the benchmark index climbed 1 per cent, gaining for a second straight week, but is down 2.8 per cent on a monthly basis.

The KOSPI has fallen 3.59 per cent so far this year, and lost 6.7 per cent in the previous 30 trading sessions.

REUTERS

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