Seoul: Won edges up, stocks down as foreign investors take profits

[SEOUL] The South Korean won edged up on Wednesday but a cautious mood prevailed in the markets as investors focused on an outcome from the Federal Reserve's September policy meeting due later on Wednesday.

The won was quoted at 1,128.3 to the US dollar at the conclusion of onshore trade, up 0.3 per cent versus Tuesday's close of 1,131.3.

South Korean shares ended weaker as foreign investors sold off local equities later in the session to take profits before Fed's policy decision.

Offshore investors cut a net 188.1 billion won (S$224.46 million) worth of Kospi shares from their portfolios on Wednesday, with the Korea Composite Stock Price Index closing 0.2 per cent down at 2,412.20 points.

REUTERS