SEOUL: South Korean stocks touch two-month high on Wednesday, as risk appetites were rejuvenated by Greece’s proposal to end a debt stand-off with its creditors plus resurgent oil costs.
The Korea Composite Stock Price Index (KOSPI) climbed 0.55 percent to finish at 1,962.79 points, its highest closing since Dec. 10 and pulling near to the KOSPI’s 120-day moving average of 1,972.30 points.
The South Korean won rose more than 1 percent against the dollar on Wednesday, as lacklustre U.S. data and the rally in oil prices weighed on the greenback and triggered heavy stop-loss selling.
The local currency was quoted at 1,084.1 to the dollar at the conclusion of onshore trade, compared to 1,097.4 at the end of Tuesday’s session.
