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Seoul: Won edges up on broad risk-on mood; stocks ease

Thursday, July 21, 2016 - 14:22
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[SEOUL] The South Korean won extended gains to end firmer on Thursday, underpinned by stronger global risk sentiment that was boosted by US stocks reaching new peaks.

The won was quoted at 1,135.9 to the dollar at the conclusion of onshore trade, up 0.5 per cent compared with Tuesday's close of 1,141.0.

South Korean shares, however, edged down as domestic institutions sold more stocks near the end of the session to take profits.

The Korea Composite Stock Price Index (Kospi) closed down 0.2 per cent at 2,012.22 points.

Offshore investors have been buyers for 11 straight sessions, purchasing a net 39.2 billion won (S$46.8 million) worth of Kospi shares for the day.

REUTERS