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S.Korean stocks end up; won firmer on exporter demand
August 26, 2014 / 6:21 AM / 3 years ago

S.Korean stocks end up; won firmer on exporter demand

(For the midday report, please click )

SEOUL, Aug 26 (Reuters) - South Korean shares closed higher on Tuesday, underpinned by stronger investor risk appetitive as bargain hunters locked in on laggard cyclical stocks such as builders and shipyards.

The Korea Composite Stock Price Index (KOSPI) finished up 0.35 percent at 2,068.05 points.

Shipbuilders outperformed the broader index with Daewoo Shipbuilding & Marine Engineering soaring 4.7 percent while Samsung Heavy Industries gained 3.3 percent.

ECB chief Mario Draghi’s speech hinting at aggressive stimulus measures further stoked investor appetite for riskier assets.

The South Korean won firmed against the high-flying dollar on exporter demand for month-end settlements.

The local currency was quoted at 1,016.8 to the dollar to conclude domestic trade on Tuesday, compared with 1,020.2 at the previous session close. (Reporting by Joonhee Yu; Editing by Jacqueline Wong)

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