Seoul: Won ends higher on dollar struggle, stocks retreat
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[SEOUL] The South Korean won broke its three consecutive losing sessions and ended higher on Wednesday thanks to broad dollar weakness due to weak U.S. economic data and exporters' month-end dollar selling.
The won was quoted at 1,148.3 to the dollar at the end of onshore trade, up 0.2 per cent compared to Tuesday's close of 1,151.0.
South Korean shares stepped down as domestic institutions took profits.
The Korea Composite Stock Price Index (KOSPI) closed down 0.2 per cent at 2,015.40 points.
Institutions sold a net 256.1 billion won (S$301 million) worth of shares whereas foreigners purchased a net 182.8 billion won worth of KOSPI shares during the day.
Offshore investors have been buyers for 11 consecutive sessions.
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REUTERS
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