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KOSPI Up on Rally in US Market

Written: 2012-03-14 17:50:37Updated: 2012-03-14 18:14:39

KOSPI Up on Rally in US Market

South Korean shares soared to a seven-month high, closing higher on the back of a rally in the U.S. market.

The benchmark Korea Composite Stock Price Index (KOSPI) on Wednesday jumped 20-point-04 points, or zero-point-99 percent, to finish at two-thousand-45-point-08.

The index surged more than one percent in the beginning on rallies in the U.S. market and posted a yearly high at one point during the session.

The tech-heavy KOSDAQ edged up four tenths of a point, or zero-point-07 percent, to close at 538-point-86.

On the Seoul foreign exchange market, the local currency lost four-point-six won against the U.S. dollar to close at one-thousand-126-point-one won against the greenback.

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