Seoul: Won ends lower, stocks inch up; Fed decision eyed

[SEOUL] The South Korean won ended lower for the third straight session on Tuesday as investors became increasingly cautious ahead of the US Federal Reserve meeting this week.

The local currency was quoted at 1,151.0 to the US dollar at the conclusion of onshore trade, down 0.3 per cent compared with Monday's close of 1,147.8.

South Korean shares made modest gains on the back of offshore buying.

The Korea Composite Stock Price Index (KOSPI) closed up 0.3 per cent at 2,019.63 points.

Foreigners have been buyers for ten straight sessions, purchasing a net 129.1 billion won (S$152 million) worth of shares.

The world's second largest memory chip maker SK Hynix Inc posted the biggest daily gain in eight months on hopes of earnings stabilisation despite its weaker-than-expected first-quarter results.

REUTERS