Seoul shares inch up to near 2-month high on offshore demand

Wed Feb 26, 2014 1:16am EST

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SEOUL Feb 26 (Reuters) - Seoul shares edged up to hit a near two-month high on Wednesday, the second day of gains, as foreigners snapped up local stocks for a fourth consecutive session.

The Korea Composite Stock Price Index (KOSPI) closed up 0.3 percent at 1,970.77 on Wednesday. Its highest intraday level at 1,973.88 was the index's best performance since Jan. 2.

Foreign investors bought a net 44.6 billion won ($41.57 million) worth of KOSPI shares, while institutions net purchased 122.3 billion won worth of South Korean stocks to prop up the bourse.

Electronics were in the lead, with market bellwether Samsung Electronics Co Ltd finishing up 0.6 percent.

($1 = 1072.8500 Korean won) (Reporting by Christine Kim; Editing by Anand Basu)

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