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Seoul: Won flat as US dollar recovers, stocks edge up

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[SEOUL] The South Korean won eased on Wednesday as the US dollar regained strength on upbeat US economic data, but the local currency's further loss was prevented by exporters' month-end US dollar selling.

The won was quoted at 1,114.2 to the US dollar at the conclusion of onshore trade, down 0.1 per cent compared with Tuesday's close of 1,113.

South Korean shares edged up supported by stronger US stocks though the gains were capped as foreign investors and institutions offloaded local equities.

The Korea Composite Stock Price Index (Kospi) closed up 0.2 per cent at 2,167.

Offshore investors sold a net 53 billion won (S$66.37 million) worth of Kospi shares while the institutions offloaded 32.5 billion won worth.

REUTERS

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