Seoul shares hit over 2-year closing high on solid China GDP
SEOUL Oct 18 (Reuters) - Seoul shares rose to their highest closing level in 26 months on Friday, buoyed by quickening growth in China and persistent foreign inflows.
The Korea Composite Stock Price Index (KOSPI) closed up 0.6 percent at 2,052.40 points, its best finish since Aug. 3 2011. The benchmark rose 1.4 percent for the week.
Foreigners purchased 308.2 billion won ($289.79 million) worth of shares, buying for a 36th consecutive session. It brought their net total from Aug. 23 to the present to more than 12.4 trillion won.
Samsung Electronics Co Ltd, the largest company by market capitalisation, rose 0.6 percent, while Hyundai Motor Co, the second largest, fell 3 percent on profit taking.
China, South Korea's major export market, reported solid third quarter growth, soothing global markets vexed by the just-resolved U.S. fiscal standoff. ($1 = 1063.5250 Korean won) (Reporting by Jungmin Jang; Editing by Shri Navaratnam)
- WTO overcomes last minute hitch to reach its first global trade deal
- Colorado baker discriminated by denying gay couple wedding cake: judge
- Flights delayed as air pollution hits record in Shanghai
- Amish girl in Ohio will not be forced to resume chemo for cancer
- South Africa mourns Mandela, will bury him on December 15 |