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South Korea: Stocks gain on easing trade worries
[SEOUL] South Korean shares gained for the sixth consecutive session on Wednesday on easing trade tensions between the United States and China.
The Seoul stock market's main KOSPI ended up 17.12 points, or 0.84 per cent, at 2,049.20, posting its highest close since July 26.
External risks have been resolved to a great extent, with easing trade tensions between the United States and China, said Han Ji-young, an analyst at Cape Investment & Securities. The won's recent rise also helped the markets, he added.
The benchmark index has added nearly 2 per cent so far this week.
The KOSPI has risen 0.40 per cent so far this year, and gained 0.1 per cent in the previous 30 trading sessions.
The trading volume during the session in the KOSPI index was 421.72 million shares. Of the total 892 traded issues, 643 shares advanced.
South Korean financial markets will remain closed on Thursday and Friday for public holidays. Markets will resume trade at normal hours on Monday, Sept. 16.