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S.Korean stocks end at record high on French election relief, won firmer
May 8, 2017 / 6:55 AM / 7 months ago

S.Korean stocks end at record high on French election relief, won firmer

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SEOUL, May 8 (Reuters) - South Korean shares closed at a record high on Monday as centrist Emmanuel Macron’s French presidential election win boosted risk appetite.

The Korea Composite Stock Price Index (KOSPI) ended up 2.30 percent at 2,292.76 points, breaking an earlier record of 2,241.24 points hit on Thursday.

Market heavyweight Samsung Electronics gained 3.3 percent to a record 2,351,000 won a share, while LG Electronics jumped 7.39 percent to 77,000 won.

Foreign investors purchased a net 544.9 billion won ($481.61 million) worth of KOSPI shares for the day.

The won was quoted at 1,131.4 to the dollar at the conclusion of onshore trade, up 0.11 percent compared with Thursday’s close of 1,132.7. The market was closed on Friday for a public holiday.

South Korean markets will be closed on Tuesday for the presidential election. ($1 = 1,131.4100 won) (Reporting by Cynthia Kim; Editing by Sunil Nair)

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