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Seoul: Stocks, won rally on ECB stimulus comments
[SEOUL] South Korean shares and the won finished sharply up on Friday, as the European Central Bank chief's comments signalling its readiness to expand stimulus lifted risky assets such as equity and emerging market currencies.
The won firmed 1.2 per cent against the dollar to close at 1,124.7, marking its strongest onshore weekly closing level since early July.
The Korea Composite Stock Price Index (KOSPI) closed up 0.9 per cent at 2,040.39 points.
South Korea's economic growth accelerated to its fastest in more than five years as a sharp recovery in domestic demand more than offset a drop in exports, but policymakers stopped short of saying the consumption recovery would be sustained.