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Seoul: South Korean won jumps to more than 1-year high after BOJ

Friday, July 29, 2016 - 15:17

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[SEOUL] The South Korean won hit a fresh one-year high on Friday as the dollar fell and the yen surged on disappointment over the Bank of Japan's latest policy easing.

The won was quoted at 1,120.2 to the dollar at the conclusion of onshore trade, its highest level since July 1, 2015. It was up 0.4 per cent compared to Thursday's close of 1,124.4.

South Korean shares ended slightly lower as domestic institions dumped stocks, weighing on the index.

The Korea Composite Stock Price Index (Kospi) closed down 0.2 per cent at 2,016.19 points.

Offshore investors bought a net 212.8 billion won (S$254 million) worth of Kospi shares, marking their 17th consecutive buying session.

For the week, the won rose 1.3 per cent, and shares were up 0.3 per cent.

South Korean market trading hours will be extended by 30 minutes starting Aug 1.

REUTERS

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