Kospi Index Rises to Five-Week High After Rate Cut: Seoul Mover
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South Korean stocks rose, driving the benchmark index to a five-week high, after the Bank of Korea joined central banks in Australia, Europe and India in cutting interest rates this month to boost growth.
GS Engineering & Construction Corp. climbed 6.8 percent, leading building companies higher. Mirae Asset Securities Co. advanced 2.2 percent. Hyundai Mipo Dockyard Co. paced gains among the nation’s shipyards, rising 7.6 percent amid speculation the company’s earnings will improve in the second half of the year.