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Signs of thaw in S.Korea-China row spurs Seoul stocks to record high, won firms
October 31, 2017 / 6:56 AM / 2 months ago

Signs of thaw in S.Korea-China row spurs Seoul stocks to record high, won firms

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SEOUL, Oct 31 (Reuters) - South Korean shares rose on Tuesday, notching a record high for a third successive session, after Seoul and Beijing agreed to work swiftly to get strained relations back on track.

Market heavyweight Samsung Electronics gave an additional boost to the benchmark stock index, as its shares rose nearly 2 percent after it announced shareholder-friendly policies and the designation of new leaders.

The Korea Composite Stock Price Index (KOSPI) closed up 0.9 percent at an all-time high of 2,523.43 points.

Foreign investors bought a net 412.5 billion won ($368.63 million) worth of shares for the day.

The South Korean won was lifted by offshore investors’ strong demand for local equities and ended at a nine-week high.

The won was at 1,120.4 to the dollar at the conclusion of onshore trade, up 0.4 percent from Monday’s close of 1,124.6. It was the highest closing level since Aug. 28. (Reporting by Dahee Kim; Editing by Kim Coghill)

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