You are here
Seoul: Won falls to one-week low; stocks edge up
[SEOUL] The South Korean won dropped to a one-week low as a slowing Chinese economy made investors wary of risk assets, but the Bank of Korea policy meet, scheduled for Thursday, prevented a few market participants from selling off dollars aggressively.
The local currency was quoted at 1,216.2 to the dollar at the conclusion of onshore trade, down 0.8 per cent as compared with Tuesday's close of 1,206.7.
South Korean shares managed some gains on bargain hunters, as the Korea Composite Stock Price Index (KOSPI) closed up 0.4 per cent at 1,952.95 points.