Around the World's Markets: Seoul

Friday 09 October 1998 23:02 BST

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SOUTH KOREAN stocks staged their biggest rally in four months, pacing gains in Hong Kong, Singapore and the Philippines, on hopes that the yen's new-found strength will boost exports of other Asian countries and allow central banks to lower interest rates.

Exporters surged as Korea's Kospi index rose 22.74 points, or 7.5 per cent, to 327.96. A strong yen is good news for Asian companies competing against Japanese rivals.

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