South Korean stocks ended at a yearly high Tuesday, bolstered by market expectations that economic policymakers are focused on fueling economic growth. The local currency rose against the U.S. dollar.

Starting the day in positive territory, the benchmark Korea Composite Stock Price Index finished at 2,028.93, up 0.52 percent, or 10.43 points, from Monday’s close, brushing off geopolitical concerns such as the downing of a passenger plane in the Ukraine and the armed conflict in the Middle East. 

Trading volume was relatively light at 253.43 million shares worth 3.02 trillion won ($2.94 billion), with advancers outpacing decliners 492 to 324, and 55 staying pat.

“Confidence in Seoul’s new economic team and signs that policymakers plan to bolster growth pushed up the bourse,” said Lim Dong-rak, a researcher at Hanyang Securities Co.

He also said that the market as a whole and foreign investors in particular have become “immune” to downside risks such as unfavorable exchange rates and geopolitical uncertainties.

This is in contrast to overnight losses on Wall Street, triggered by worries of a new “Cold War” brewing between the United States and Russia over Moscow’s support of rebel forces suspected of having shot down the jet over the Ukraine last week. (Yonhap)