1. South Korean stocks hit all-time highs, won jumps

South Korean stocks hit all-time highs, won jumps

South Korean shares rallied on Thursday for a fifth session to finish at an all-time high, supported by positive comments from the Bank of Korea on the economy and offshore stock purchases. Offshore investors bought a net 118.3 billion won ($106.01 million) worth of KOSPI shares for the day.

By: | Updated: May 25, 2017 2:24 PM
The benchmark Korea Composite Stock Price Index (KOSPI) closed up 1.1 percent at a record high of 2,342.93 points, outstripping Wednesday’s close of 2,317.34 points.

South Korean shares rallied on Thursday for a fifth session to finish at an all-time high, supported by positive comments from the Bank of Korea on the economy and offshore stock purchases. The benchmark Korea Composite Stock Price Index (KOSPI) closed up 1.1 percent at a record high of 2,342.93 points, outstripping Wednesday’s close of 2,317.34 points.

Offshore investors bought a net 118.3 billion won ($106.01 million) worth of KOSPI shares for the day.

The South Korean won jumped nearly 1 percent to a more than one-week high as minutes of a May meeting of U.S. Federal Reserve officials showed they agreed to tighten monetary policies gradually.

The won was quoted at 1,116.5 to the dollar at the conclusion of onshore trade, the highest since May 16. It was up 0.9 percent from Wednesday’s close of 1,126.8.

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