Seoul - Shares rallied Wednesday on the Seoul stock exchange on foreign buying, while South Korea's currency surged against the dollar.

The benchmark Kospi index soared 33.89 points, or 2.8 per cent, to close at 1,228.17.

Advancing issues outpaced decliners 594 to 244.

The main index of the technology-heavy Kosdaq market rose 7.72 points to 356.13.

On currency markets, the US dollar was quoted at 1,292.50 Korean won, after Tuesday's close of 1,312.50 won. (dpa)