SEOUL: South Korean stocks touched 1-month high on Tuesday as relief set in that European stocks had emerged unharmed from Greece’s election outcome, with the possibility of a Greek exit from the euro zone seen to be extremely remote.
The Korea Composite Stock Price Index (KOSPI) climbed 0.86 per cent to close at 1,952.40 points, going above the index’s 60-day moving average.
The South Korean won closed nearly unchanged against the dollar after a rangebound trading session, with investors reluctant to take clear positions ahead of the US Federal Reserve’s two-day policy meeting due to start later in the day.
The local currency was quoted at 1,079.8 to the dollar at the conclusion of onshore trade, compared to 1,080.8 seen at the end of Monday’s session.
