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South Korea: Stocks rally on expectations of Fed rate cut; auto firms zoom

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South Korea's KOSPI stock index rose for a third consecutive session on Monday on growing bets for a rate cut by the US Federal Reserve, while the trade deal between the United States and Mexico, and Beijing's stimulus measures boosted domestic auto sector.

[SEOUL] South Korea's KOSPI stock index rose for a third consecutive session on Monday on growing bets for a rate cut by the US Federal Reserve, while the trade deal between the United States and Mexico, and Beijing's stimulus measures boosted domestic auto sector.

The Seoul stock market's main KOSPI closed up 27.16 points, or 1.31 per cent, at 2,099.49, marking the biggest daily percentage gain since April 29.

The trading volume during the session on the KOSPI index was 452.20 million shares and of the total traded issues of 891, 628 shares rose.

The KOSPI has risen 2.86 per cent so far this year, but lost 6.7 per cent in the previous 30 trading sessions.

REUTERS

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