Seoul - Shares surged more than 5 per cent Monday on the Seoul Stock Exchange as investor sentiment was boosted by the US government decision to bail out struggling mortgage giants Fannie Mae and Freddie Mac.

The benchmark Kospi index soared 72.27 points, or 5.2 per cent, to close at 1,476.65. Advancing issues outpaced decliners 728 to 123.

The main index of the technology-heavy Kosdaq market rose 17.47 points to 459.42.

On currency markets, the US dollar was quoted at 1,081.40 Korean won, down from 1,117.80 won on Friday. (dpa)