Seoul: Stocks rise, won pares gains as US dollar recovers

[SEOUL] The South Korean won pared gains on Wednesday as the US dollar rebounded in the global market on higher demand.

Onshore trade of the won concluded at 1,158.1 to the US dollar, up 0.3 per cent compared to Tuesday's close of 1,162.1.

South Korean shares rose on local institutional buying.

The Korea Composite Stock Price Index (Kospi) closed up 0.6 per cent at 2,080.48 points.

Domestic institutions bought a net 55.4 billion won (S$67.789 million) worth of Kospi shares, while foreign investors sold a net 11.9 billion won.

REUTERS