Seoul: Won ends at 1-wk low on weaker Singdollar; stocks at 19-wk high
[SEOUL] The South Korean won retreated to a one-week low at the end of Thursday's trade after Singapore's central bank unexpectedly eased its monetary policy, putting the local currency under pressure.
The won was quoted at 1,156.7 to the dollar at the conclusion of onshore trade, down 1.0 per cent from Tuesday's close of 1,145.8.
South Korean stocks, however, posted their highest close since early December as foreign investors bought shares, thanks to solid China trade data.
The Korea Composite Stock Price Index (KOSPI) closed up 1.8 per cent at 2,015.93.
Foreigners were net buyers, purchasing 552.5 billion won (S$653 million) worth of shares.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results