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S.Korean stocks close all-time high, won at over 3-wk high
July 13, 2017 / 6:46 AM / 4 months ago

S.Korean stocks close all-time high, won at over 3-wk high

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SEOUL, July 13 (Reuters) - South Korean shares finished at all-time closing high on Thursday, tracking a Wall Street rally after less hawkish than expected comments from the U.S. Federal Reserve chief and after the local central bank upgraded its economic outlook.

The Bank of Korea kept interest rates unchanged, as expected, on Thursday and said it sees the local economy growing 2.8 percent this year, up from the 2.6 percent forecast in April.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 percent at 2,409.49 points, a record-high closing level. The index touched as high as 2,422.26 during the session.

Offshore investors purchased a net 126.3 billion won ($111.15 million) worth of KOSPI shares on Thursday.

The South Korean won also rose to a more than three-week closing high.

The won was quoted at 1,136.3 to the dollar at the conclusion of onshore trade, up 0.8 percent compared with Wednesday’s close of 1,145.1. It was the strongest closing level since June 20. (Reporting by Dahee Kim; Editing by Sam Holmes)

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