April 2, 2014 / 6:15 AM / in 4 years

RPT-S.Korean stocks, won at 3-month highs on U.S. factory survey

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SEOUL, April 2 (Reuters) - 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)

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