Seoul: Won ends up on broad US dollar weakness, shares edge up

[SEOUL] The South Korean won finished higher on Monday on broad US dollar weakness as solid US jobs data failed to persuade investors that the Federal Reserve will shift its cautious stance on further rate increases.

The local currency was quoted at 1,146.1 to the US dollar at the conclusion of onshore trade, up 0.7 per cent compared to Friday's close of 1,154.2.

South Korean shares edged up as foreign investors became net buyers near the end of the session.

The Korea Composite Stock Price Index (KOSPI) closed up 0.3 per cent at 1,978.97 points.

Offshore investors were net buyers after selling for the past two sessions, purchasing 58.5 billion won (S$68.9 million) worth of the shares.

REUTERS