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South Korea: Stocks close 1% higher as Kudlow remarks boost trade deal optimism
[SEOUL] South Korean shares ended higher on Friday as White House economic adviser Larry Kudlow's remarks revived hopes that Washington and Beijing were close to signing a trade deal.
Mr Kudlow said on Thursday that the countries were in close touch via telephone, and an agreement could be reached soon.
The Seoul stock market's main KOSPI ended up 22.95 points, or 1.07 per cent, at 2,162.18.
For the week, the benchmark index added 1.17 per cent, marking a sixth consecutive weekly gain.
Foreigners were net sellers of US$127.19 million worth of shares on the main board.
The KOSPI has risen 5.94 per cent so far this year, and gained 3.2 per cent in the previous 30 trading sessions.