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S.Korean stocks post best day in 4-weeks; won closes weaker
June 10, 2014 / 6:16 AM / 3 years ago

S.Korean stocks post best day in 4-weeks; won closes weaker

(For the midday report, please click )

SEOUL, June 10 (Reuters) - South Korean shares posted their best daily gains in four weeks on Tuesday, helped by persistent foreign capital inflows, while the won closed weaker after a media report that authorities would inspect bank dealing activities for one-sided movements near the market close.

However, a foreign exchange official told Reuters that there were no plans to carry out inspections, though factors behind surges in dollar/won trading near the end of onshore trade were under scrutiny.

The won was quoted at 1,017.2 against the dollar at the end of onshore trade, easing 0.1 percent from Monday’s 1,016.2.

The Korea Composite Stock Price Index (KOSPI) closed up 1.1 percent at 2,011.80 points, the best daily percentage rise since a 1.4 percent gain on May 14.

Foreign investors positioned as net buyers for a 19th consecutive session, picking up 191 billion won ($187.81 million) worth of KOSPI shares. ($1 = 1017.0000 South Korean Won) (Reporting by Jungmin Jang; Editing by Simon Cameron-Moore)

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