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Seoul: Shares snap 3-day slide; won firmer on Fed comments
[SEOUL] South Korean shares edged higher on Tuesday to snap a three-day losing streak, finding support from bargain hunters after slumping to a fresh 7-month closing low in the previous session.
The Korea Composite Stock Price Index (KOSPI) drifted 0.11 per cent higher to close at 1,929.25 points.
The South Korean won firmed on Tuesday, tracking the dollar's decline as the US Federal Reserve hinted at a possible delay in raising interest rates in light of recent signs that global growth may be losing traction.
The local currency was quoted at 1,064.5 to the dollar at the conclusion of onshore trade on Tuesday, compared with Monday's closing rate of 1,067.9. - Reuters