Seoul: Upbeat China data, vaccine hopes power shares to over 2-yr high

[SEOUL] South Korean shares on Tuesday ended at their highest in more than two years, tracking broader Asian peers on Covid-19 vaccine hopes and upbeat Chinese data.

The benchmark Kospi closed up 15.67 points, or 0.65 per cent, to 2,443.58, the highest close since June 12, 2018. The index extended gains to a fourth straight session.

Asian equities took cues from a higher finish overnight on Wall Street, while data showed China's industrial output in August grew most in eight months and retail sales rose for the first time this year.

Investors' focus remained on central banks, as the US Federal Reserve plans to start its two-day policy meeting later in the day, while the Bank of Japan and the Bank of England will announce their policy decisions this week.

Foreigners were net buyers of US$214.27 million worth of shares on the main board.

REUTERS