Seoul stocks sharply rose on April 29 as investors’ appetite for risky assets increased ahead of the Federal Reserve’s monetary policy decision this week. The won rose against the dollar, snapping its five-day losing streak.

The benchmark Kospi rose 37.12 points, or 1.70 percent, to close at 2,216.43. Trading volume was moderate at 374 million shares worth 4.9 trillion won ($4.2 billion), with gainers outnumbering losers 548 to 288.

Foreigners and institutions bought a combined 280 billion won worth of stocks, offsetting net selling worth 283 billion won by individuals.

The local currency traded at 1,158.50 won against the US dollar, up 2.50 won from the previous day’s close, marking the first rise in six days.

By Ram Garikipati and newswires (ram@heraldcorp.com)