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3 years ago
S.Korea shares climb to one-month high on govt reform plans
February 25, 2014 / 6:12 AM / 3 years ago

S.Korea shares climb to one-month high on govt reform plans

(For the midday report, please click )

SEOUL, Feb 25 (Reuters) - South Korean shares hit a one-month high on Tuesday as sentiment was boosted by a record-breaking performance on Wall Street and plans from the South Korean government to improve Asia's fourth-largest economy.

The Korea Composite Stock Price Index (KOSPI) closed up 0.8 percent the day's high of 1,964.86 points on Tuesday, its highest closing level since Jan. 22.

Foreign investors bought a net 230.1 billion won ($214.15 million) worth of KOSPI shares in their third straight buying session.

South Korea's president unveiled on Tuesday a three-year blueprint to steer the country's economy towards the next phase of growth, promising to reduce South Korea's reliance on exports and increased employment among women.

Stocks of Naver Corp finished up 7.5 percent after reports said Japan's SoftBank Corp was seeking to buy a stake of Naver's mobile-messaging service Line Corp. Naver has since denied the reports. ($1 = 1074.5000 Korean won) (Reporting by Christine Kim; Editing by Kim Coghill)

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