Seoul shares at almost 2-wk closing high, eyes on Fed's Yellen

SEOUL Tue Feb 11, 2014 1:26am EST

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SEOUL Feb 11 (Reuters) - Seoul shares inched up to their highest closing level in nearly two weeks on Tuesday, fuelled by a rise in index-heavweight Samsung Electronics, but investors avoided taking big positions before Janet Yellen, the new U.S. Federal Reserve chair, appears at the House of Representatives later in the day.

The Korea Composite Stock Price Index (KOSPI) closed up 0.5 percent at 1,932.06 points, its highest close since Jan. 29.

Turnover in Seoul stood at 3.19 trillion won ($2.98 billion), falling below the five-day average of 4.07 trillion won while advancers beat decliners 437 to 341.

Samsung Electronics Co Ltd rose 2.7 percent on bargain-hunting as the yen strengthened, posting its biggest daily percentage gain since Nov. 15. Samsung Electronics shares dropped nearly 7 percent in January. ($1 = 1071.2000 Korean won) (Reporting by Jungmin Jang; Editing by Eric Meijer)

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