Seoul - Shares closed 4.7 per cent higher Wednesday on the Seoul stock exchange as the US government's rescue plan for Citigroup Inc helped boost investor confidence.

The benchmark Kospi index surged 46.46 points to close at 1,029.78.

Advancing issues outnumbered decliners 651 to 189.

The main index of the technology-heavy Kosdaq market inched up 8.12 points to 295.51.

South Korea's currency also soared against the dollar. The US dollar was quoted at 1,478.10 won, after 1,502.30 won on Tuesday. (dpa)