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Seoul: Won ends at more than 9-month high after Fed

Thursday, July 28, 2016 - 14:19
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[SEOUL] The South Korean won ended at a more than nine-month high on Thursday, as the global risk rally continued after the US Federal Reserve meeting ended with no definite hints about the timing of its next rate hike.

The won was quoted at 1,124.4 to the dollar at the conclusion of onshore trade, up 0.9 per cent compared to Wednesday's close of 1,134.2. It was the strongest level since October 19, 2015.

South Korean shares ended lower as onshore stock-selling offset offshore purchases.

The Korea Composite Stock Price Index (Kospi) closed down 0.2 per cent at 2,021.10 points.

Foreign investors marked a 16th straight buying session, purchasing a net 197.5 billion won (S$235.5 million) worth of Kospi shares on Thursday.

REUTERS