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South Korea: Stocks see highest close in nearly 6 months on trade optimism

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The Seoul stock market's main KOSPI rose 12.40 points, or 0.58 per cent, to 2,142.64, rising for the fourth straight session.

[SEOUL] South Korean shares closed at their highest since early-May on Tuesday on increasing signs that the United States and China moved closer to a trade truce.

US Commerce Secretary Wilbur Ross said that very good progress was being made towards completing a phase one trade agreement with China and he was hopeful that it would be a precursor to a much more robust agreement

The Seoul stock market's main KOSPI rose 12.40 points, or 0.58 per cent, to 2,142.64, rising for the fourth straight session.

Foreigners were net buyers of US$285.29 million worth of shares on the main board, the most since July 11.

The KOSPI has risen 4.98 per cent so far this year, and gained 2.4 per cent in the previous 30 trading sessions.

The trading volume during the session in the KOSPI index was 393.86 million shares and, of the total traded issues of 903, the number of advancing shares was 503.

REUTERS

 

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