South Korean shares closed higher for an eighth straight session on Tuesday as hopes of a quicker global economic recovery grew amid some caution ahead of the US Federal Reserve's meeting.[SEOUL] South Korean shares closed higher for an eighth straight session on Tuesday as hopes of a quicker global economic recovery grew amid some caution ahead of the US Federal Reserve's meeting.The Kospi closed up 4.63 points or 0.21 per cent at 2,188.92.
Among shares, Samsung Electronics closed up 1.1 per cent after a South Korean court denied an arrest warrant request for the group's heir Jay Y Lee over accusations of accounting fraud and stock manipulation. Defence-related firms surged after North Korea said it would close lines of communication at an inter-Korean liaison office and hotlines between the two militaries and presidential offices.
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