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SEOUL, April 2 South Korean shares and the won
closed at their highest levels in three months on
Wednesday, buoyed by improving U.S. factory activity in March
and rising hopes that China will stimulate its economy.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.3 percent at 1,997.25 points, the highest close since Dec.
30. The index breached the psychologically important 2,000 point
level during the session for the first time since Jan. 2.
Foreign investors purchased a net 434 billion won ($410
million) worth of KOSPI shares, the most since Oct. 23, and
supported the won as well.
The local currency was quoted at 1,056.6 against
the dollar at the end of onshore trade, up 0.2 percent from
Tuesday's close of 1,058.5 and the strongest close since Jan. 3.
($1 = 1058.6500 Korean Won)
(Reporting by Jungmin Jang; Editing by Richard Borsuk)