SEOUL: South Korean stocks edged up to a near four-year high at midday on Monday on hopes global funds will continue to flow into emerging markets, with brokerages leading the gains.
The Korea Composite Stock Price Index (KOSPI) was up 0.1 per cent at 2,090.42 points as of 0240 GMT after briefly touching 2,095.75 points, its highest intraday level since August 2, 2011.
“Emerging markets will likely continue to enjoy fund inflows as the global liquidity will remain ample for the time being,” said Han Yo-seop, an analyst at KDB Daewoo Securities.
Foreign investor interest in South Korean equities remained strong, with a net purchases worth 145 billion won (S$180 million) by midday, extending their buying spree into a fifth consecutive session.
