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Seoul: Stocks, won rise as US suspends discussions of FTA termination

[SEOUL] South Korean shares snapped a five-day losing streak and ended near a one-week high on Thursday as global investor sentiment improved and the United States suspended immediate plans to end its free trade pact with Seoul for now.

The Korea Composite Stock Price Index (Kospi) closed up 1.1 per cent at 2,346.19 points.

Foreign investors also returned to purchase local equities, buying a net 72.4 billion won (S$86.4 million) worth on the day.

The South Korean won also strengthened to end at 1,1129.4 to the dollar at the conclusion of onshore trade, up 0.5 per cent versus Wednesday's close of 1,135.4.

Despite the rally, North Korea risks remain in view with South Korea deploying additional anti-missile defences to protect against further provocations from Pyongyang.