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Seoul: Won ends at 10-week high on US dollar-selling, stocks edge up

Thursday, July 14, 2016 - 14:29
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[SEOUL] The South Korean won extended gains on Thursday and reached its strongest level in 10 weeks as foreign investors continued to sell US dollars to buy Korean shares.

The won was quoted at 1,137.4 to the US dollar at the conclusion of onshore trade, its highest level since May 3. It was up 0.8 per cent compared to Thursday's close of 1,146.4.

The Korea Composite Stock Price Index (Kospi) closed up 0.2 per cent at 2,008.77 points, as purchases by foreigners offset selling by domestic investors.

Offshore investors have been buyers for six consecutive sessions. They bought a net 370 billion won (S$437.87 million) of Kospi shares on Thursday.

REUTERS