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S.Korean shares enjoy biggest daily gain in 11 months; won firmer
October 20, 2014 / 6:17 AM / 3 years ago

S.Korean shares enjoy biggest daily gain in 11 months; won firmer

(For the midday report, please click )

SEOUL, Oct 20 (Reuters) - South Korean shares soared on Monday, producing their largest one-day percentage gain in 11 months as better-than-expected U.S economic data sparked a relief rally in equity markets worldwide.

The Korea Composite Stock Price Index (KOSPI) climbed 1.55 percent to close at 1,930.06 points. It was the biggest one-day rise since Nov. 15, 2013.

The South Korean won firmed on Monday, supported by demand for the local currency as offshore players bought back oversold stocks.

Foreign investors bought a net 26.2 billion won ($24.73 million) of shares on the main bourse on Monday, snapping a 12-day selling streak where they repatriated a net 2.4 trillion won ($2.27 billion) worth.

The local currency was quoted at 1,059.6 to the dollar at the conclusion of onshore trade, compared to Friday’s closing rate of 1,065.9. (Reporting by Joonhee Yu; Editing by Richard Borsuk)

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