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

Thursday, January 26, 2017 - 15:45

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[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

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