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Seoul: Won ends at near 16-months high on risk demand, stocks edge up

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[SEOUL] The South Korean won strengthened 1.0 percent on Wednesday to its highest level against the dollar since May last year as foreign investors snapped up stocks.

The won was quoted at 1,095.4 to the dollar at the conclusion of onshore trade, up from Tuesday's close of 1,106.1.

South Korean shares closed nearly steady with the Korea Composite Stock Price Index (Kospi) standing at 2,044.64 points.

Offshore investors bought a net 276.8 billion won (S$336.8 million) worth of Kospi shares.

Both the won and stocks gained for a fifth straight session.

REUTERS