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SEOUL, July 14 (Reuters) – South Korean shares closed at an
all-time high on Friday and the won edged up as strong risk-on
sentiment returned following the Federal Reserve’s cautious
stance regarding future monetary tightening.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.2 percent at 2,414.63 points, its highest ever closing
The won was quoted at 1,133.3 to the dollar at
the conclusion of onshore trade, up 0.3 percent compared with
Thursday’s close of 1,136.3.
The KOSPI climbed 1.5 percent this week, its biggest weekly
gain since end-May.
The local currency jumped 1.9 percent for the week, its
biggest gain since mid-March.
Offshore investors were net sellers of local equities on
Friday, offloading shares worth 10.7 billion won ($9.4 million).
(Reporting by Dahee Kim; Editing by Amrutha Gayathri)