S.Korea stocks post highest close for year, won pares gains

Thu Apr 10, 2014 2:12am EDT

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SEOUL, April 10 (Reuters) - Seoul shares rose on Thursday to close above the important 2,000-point level for the first time this year, and the won pared much of its earlier gains on dollar-buying intervention by local authorities and profit taking.

Risk appetite, which got a boost from gains on Wall Street, was tempered by worse-than-expected March China exports data and as Chinese Premier Li Keqiang dashed stimulus hopes.

The Korea Composite Stock Price Index (KOSPI) finished up 0.5 percent at 2,008.61 points, the highest close since Dec. 30, 2013.

The local currency was quoted at 1,040.2 against the dollar at the end of onshore trade, up 0.1 percent from Wednesday's close at 1,041.4.

The won hit an intraday high of 1,031.4 in early trading, its strongest level since Aug. 12, 2008. (Reporting by Jungmin Jang; Editing by Shri Navaratnam)

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