SEOUL, Nov. 2 (Xinhua) -- South Korean stocks rose at the fastest pace in about seven years Friday on eased concerns about trade conflict among major economies.
The benchmark Korea Composite Stock Price Index (KOSPI) surged 71.54 points, or 3.53 percent, to settle at 2,096.00. Trading volume stood at 364 million shares worth 6.6 trillion won (5.9 billion U.S. dollars).
It was the highest daily advance in around seven years as views emerged among stock investors that trade conflict among major economies could be moderated, market watchers said.
Foreign investors kept buying stocks for the third consecutive session, leading the KOSPI's recent rebound. Retail investors dumped shares, but institutional investors were net buyers.
Most blue-chip stocks gained around. Market bellwether Samsung Electronics advanced 4.7 percent, and memory chip giant SK Hynix jumped 6.3 percent. The biosimilar manufacturer Celltrion added 4 percent, and leading chemical firm LG Chem picked up 5.6 percent.
The local currency appreciated the most versus the dollar in 22 months as concerns weakened about global trade conflict.
South Korea's currency finished at 1,121.6 won against the greenback, up 16.5 won from the previous close.
Bond prices ended lower. Yields on the liquid three-year treasury notes rose 4.0 basis points to 1.982 percent, and the return on the 10-year government bonds gained 3.2 basis points to 2.283 percent.
