March 14, 2012 / 6:12 AM / 5 years ago

Seoul shares rise to 7-mth closing high, financials extend rally

SEOUL, March 14 (Reuters) - Seoul shares rose nearly 1 percent to a fresh, 7-month closing high on Wednesday underpinned by financials, after U.S. stocks posted their best day of the year on upbeat retail sales data and an improved economic outlook from the Federal Reserve.

Financials were highlight performers, as Woori Finance Holdings soared 4 percent while KB Financial Group gained 3.85 percent.

The Korea Composite Stock Price Index (KOSPI) climbed 0.99 percent to end at 2,045.08 points, its highest close since August, although the index pared some of its earlier gains to fall just short of the key 2,050 point chart level. (Reporting by Joonhee Yu; Editing by Jacqueline Wong)

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