You are here

Seoul: Won ends at 7 week high on broad US dollar weakness; stocks rise

7_30119626.3 (39716378) - 02_09_2016 - FOREX4.jpg

[SEOUL] The South Korean won sped to a seven-week closing high on Thursday as exporter-sales of US dollars added to broad weakness for the US currency.

The won was quoted at 1,159.2 to the US dollar at the conclusion of onshore trade, its highest since December 8, 2016. It was up 0.6 per cent compared to Wednesday's close of 1,166.0.

South Korean shares also ended higher thanks to strong US stocks, with the Korea Composite Stock Price Index (Kospi) closing up 0.8 per cent at 2,083.59 points.

Foreign investors bought a net 349.2 billion won (S$427.66 million) worth of Kospi shares.

South Korean market will be closed from Friday to Monday for national holidays.

REUTERS

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom