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Seoul: Won bolsters gains after BOJ holds policy; shares edge up

Wednesday, January 21, 2015 - 14:27
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[SEOUL] The South Korean won rose against the dollar on Wednesday after the Bank of Japan maintained its policy stance, a widely expected move that prompted speculators who bet on a surprise stimulus expansion to cover their short positions.

The local currency was quoted at 1,083.4 to the dollar the conclusion of onshore trade, compared to 1,088.4 seen at the end of Tuesday's session.

South Korean shares, which rallied the past two days, closed a shade higher after a choppy session. Early losses were erased by growing expectations that the European Central Bank (ECB) will embark on bolder stimulus measures.

The Korea Composite Stock Price Index (KOSPI) edged up 0.15 per cent to 1,921.23 points.

REUTERS