Seoul shares close at 3-week high, US data bolsters risk appetite
SEOUL Dec 24 (Reuters) - Seoul shares closed at a three-week high on Tuesday, spurred by an uptick in risk appetite on the back of strong U.S. spending data, though profit-taking ahead of the Christmas holiday checked gains.
The Korea Composite Stock Price Index (KOSPI) closed up 0.2 percent at 2,001.59 points, its highest close since Dec.3. It marked the sixth consecutive winning session for the benchmark and a 2 percent rise in that period.
Institutional investors underpinned the market with net purchases for a 15th straight session, the longest streak since August 2008. They picked up a net 458.1 billion won ($431.88 million) worth of local shares.
Local stock markets will be closed on Wednesday for the Christmas holiday and reopen on Thursday. ($1 = 1060.7000 Korean won) (Reporting by Jungmin Jang; Editing by Shri Navaratnam)
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