S Korean stocks rally on BOJ and Fed decisions

Dhaka,  Monday,   2016-09-23
Published : 23 Sep 2016, 12:56:31

S Korean stocks rally on BOJ and Fed decisions

S Korean stocks rally on BOJ and Fed decisions
South Korean shares extended their rally early on Friday as decisions from major central bank meetings were seen benefitting market liquidity.

The Korea Composite Stock Price Index (KOSPI) was up 0.1 per cent at 2,052.03 points as of 0204 GMT. It was set to mark a sixth straight gaining session.

Offshore investors were set to snap their five-day buying streak, and sold a net 9.4 billion Korean won ($8.52 million) worth of KOSPI shares near mid-session.

Shares of Hanjin Shipping rose more than 5.0 per cent. Carmaker Hyundai Motor Co rose 2.5 per cent.

Advancers outnumbered decliners 434 to 350.

The South Korean won was quoted at 1,105.8 against the dollar, down 0.2 per cent compared to Thursday's close of 1,103.3.

Both the stocks and won were poised to mark gains for the week, according to a news agency.

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