S.Korean stocks close all-time high, won at over 3-wk high

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SEOUL, July 13 (Reuters) – South Korean shares finished at
all-time closing high on Thursday, tracking a Wall Street rally
after less hawkish than expected comments from the U.S. Federal
Reserve chief and after the local central bank upgraded its
economic outlook.

The Bank of Korea kept interest rates unchanged, as
expected, on Thursday and said it sees the local economy growing
2.8 percent this year, up from the 2.6 percent forecast in
April.

The Korea Composite Stock Price Index (KOSPI) closed
up 0.7 percent at 2,409.49 points, a record-high closing level.
The index touched as high as 2,422.26 during the session.

Offshore investors purchased a net 126.3 billion won
($111.15 million) worth of KOSPI shares on Thursday.

The South Korean won also rose to a more than
three-week closing high.

The won was quoted at 1,136.3 to the dollar at
the conclusion of onshore trade, up 0.8 percent compared with
Wednesday’s close of 1,145.1. It was the strongest closing level
since June 20.
(Reporting by Dahee Kim; Editing by Sam Holmes)

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