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Seoul: Stocks rise, won gains on exporter US dollar selling

Wednesday, February 22, 2017 - 16:01

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[SEOUL] The South Korean won edged up on Wednesday, supported by strong dollar selling from exporters and a weaker US currency ahead of the Federal Reserve's March policy meeting.

The won was quoted at 1,142.6 to the US dollar at the conclusion of onshore trade, up 0.3 per cent from Tuesday's close of 1,146.1.

South Korean shares rose for a third consecutive session to their highest close in nearly 20 months.

The Korea Composite Stock Price Index (Kospi) closed up 0.2 per cent at 2,106.61, its highest since July 2 2015.

Foreign investors were net buyers for the fifth straight session, purchasing 322.8 billion won (S$401.802 million) worth of Kospi shares for the day.

REUTERS

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