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S.Korean stocks see gains for third day, won up on dollar weakness
August 24, 2017 / 6:53 AM / 3 months ago

S.Korean stocks see gains for third day, won up on dollar weakness

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SEOUL, Aug 24 (Reuters) - South Korean shares marked a third consecutive session of gains on Thursday, holding onto two-week highs as bullish sentiment prevailed, with traders expecting the market to test recent record highs.

The Korea Composite Stock Price Index (KOSPI) closed up 0.4 percent at 2,375.84 points, highest closing level since Aug. 8.

Offshore investors bought a net 13.8 billion won worth of KOSPI shares for the day.

Seoul bourse will be closely eyeing on a court ruling in the bribery trial of Samsung Electronics’ vice chairman Jay Y. Lee on Friday.

The South Korean won also ended highest since Aug. 8 as the greenback slumped after U.S. President Donald Trump raised the spectre of a government shutdown unless funds were allocated to build a wall on the U.S.-Mexican border.

The won was quoted at 1,127.9 to the dollar at the conclusion of onshore trade, up 0.3 percent compared to Wednesday’s close of 1,131.8. (Reporting by Dahee Kim; Editing by Simon Cameron-Moore)

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