Seoul shares at 4-week closing high as large-caps rise

Thu Mar 27, 2014 2:11am EDT

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SEOUL, March 27 (Reuters) - Seoul shares rose to their highest closing level in four weeks on Thursday, as foreigners picked up large-cap stocks such as Samsung Electronics as concerns about the strength of coming first-quarter earnings results eased.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 percent at 1,977.97 points, the highest close since Feb. 28.

Foreign investors bought a net 242.3 billion won ($225.4 million) Korean won of KOSPI shares.

Samsung Electronics Co Ltd, which accounts for one-sixth of total market capitalisation, advanced 3.7 percent.

Hyundai Motor Co and Hyundai Mobis Co Ltd, the second and third largest components in KOSPI, gained 1.2 percent and 1.4 percent, respectively. (Reporting by Jungmin Jang; Editing by Richard Borsuk)

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