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S.Korea stocks end near 2-yr high on Samsung Electronics rally; won calm
March 17, 2017 / 6:57 AM / 6 months ago

S.Korea stocks end near 2-yr high on Samsung Electronics rally; won calm

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SEOUL, March 17 (Reuters) - South Korean shares brushed a 23-month high on Friday as market-heavy Samsung Electronics rallied to another record high, while foreign investors continued their buying-spree of local equities.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 percent at 2,164.58 points, the highest close since April 2015.

For the week, the index rose 3.2 percent, its biggest weekly percentage gain since July 2016.

Samsung Electronics Co Ltd was up 1.3 percent, marking the fifth straight session of gains.

Offshore investors have been stock buyers for 10 consecutive sessions, purchasing a net 251.63 billion won ($222.55 million) worth of KOSPI shares for the day.

The South Korean won was steady throughout the day, standing at 1,130.9 to the dollar at the conclusion of onshore trade compared to Thursday’s close of 1,132.0.

The local currency gained 2.3 percent, marking the biggest weekly percentage gain since mid-July 2016. (Reporting by Dahee Kim; Editing by Randy Fabi)

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