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Seoul: Won extends gains to 2-week high while Kospi ends flat
[SEOUL] The South Korean won finished at a nearly two-week high on Wednesday, bolstered by foreign demand for local stocks and exporters' dollar sales.
The won's upside was capped, however, as caution prevailed ahead of the Federal Reserve's policy meeting later in the global day.
The won was quoted at 1,143.6 to the US dollar at the conclusion of onshore trade, up 0.5 per cent compared to Tuesday's close of 1,148.8. It was the highest closing level since March 2.
South Korean shares erased earlier losses as offshore investors turned to net buyers, continuing their buying spree for an eighth straight session.
The Korea Composite Stock Price Index (Kospi) ended a tick lower at 2,133.00 points, easing off the previous day's near 20-month high.
Offshore investors purchased a net 120.3 billion won (S$149.01 million) worth of Kospi shares for the day.