Kosdaq soars 5% on public investment fund hopes

South Korea's secondary bourse Kosdaq surged nearly 5 percent on Friday, backed by growing expectations over a public investment fund aimed at fostering strategic industries.

The junior bourse closed at 1,161.13, advancing 4.99 percent from the previous session.

Foreign investors lifted the index, net buying 702.8 billion won ($468.5 million), while institutional investors added 288.1 billion won to the rally.

Retail investors were the sole net sellers, offloading a net 969.2 billion won.

A buy-