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Seoul: Won ends at 6-week high on stronger risk appetite

Tuesday, May 16, 2017 - 14:59

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[SEOUL] The South Korean won finished at its highest in six weeks on Tuesday, as investor appetite for riskier assets improved in the wake of firmer global oil prices.

The won was quoted at 1,116.0 to the US dollar at the conclusion of onshore trade, up 0.7 per cent compared to Monday's close of 1,123.6. It was the highest closing level since April 3.

South Korean shares were slightly higher with the Korea Composite Stock Price Index (Kospi) ending 0.2 per cent higher at 2,295.33 points.

Foreign investors have been net sellers of Kospi shares for three straight sessions, offloading 106.5 billion won (S$133.43 million) worth on Tuesday.

REUTERS

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