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Seoul: Stocks, won rise on renewed risk demand
[SEOUL] South Korean shares and the won climbed on Wednesday as global markets calmed down after the shock Brexit vote, renewing investors' demands for riskier assets.
The Korea Composite Stock Price Index (KOSPI) closed up 1.0 per cent at 1,956.36 points, marking three consecutive days of gains. At one point, the index was up 1.5 per cent.
Offshore investors ended a three-day streak of net selling, purchasing 58.5 billion won (S$68.2 million) worth of KOSPI shares for the day.
The won was quoted at 1,160.2 to the dollar at the conclusion of onshore trade, up nearly 1 per cent from to Tuesday's close of 1,171.3.