South Korean stocks rise on US-China trade progress

[SEOUL] South Korean shares ended over 1 per cent higher on Monday as partial trade deal between the United States and China to end their tariff war lifted risk appetite.

The benchmark stock index KOSPI closed up 22.79 points, or 1.11 per cent, to 2,067.40.

"The biggest factor behind the jump on KOSPI market was the US-China trade deal," said Lee Young-gon, an analyst with Hana Financial Investment.

The KOSPI has risen 1.29 per centso far this year, but gained 6.7 per cent in the previous 30 trading sessions.

The trading volume during the session in the KOSPI index was 502.18 million shares and, of the total traded issues of 888, the number of advancing shares was 668.

REUTERS