South Korean shares closed at a record high on Friday, ending the week with biggest gains since mid-March, as investment sentiment was by the central bank’s upbeat outlook for the economy and Wall Street’s strength overnight. The Korea Composite Stock Price Index (KOSPI) closed up 0.5 percent at 2,355.31 points versus 2,342.93 on Thursday, to post a 2.9 percent gain for the week.
Offshore investors purchased a net 111.6 billion won ($99.62 million) worth of KOSPI shares. The South Korean won edged down for the day, but still made its biggest weekly percentage gain since late March.
The won ended onshore trade at 1,120.7 per dollar, down 0.4 percent compared to Thursday’s close of 1,116.5. The currency was up 0.6 percent for the week.