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Seoul: Won jumps on dollar selling; stocks extend gains

Tuesday, March 7, 2017 - 15:34

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[SEOUL] The South Korean won rose sharply on Tuesday as investors sold dollars to book profits on expectation that a potential March Fed rate hike has been fully priced in.

The won was quoted at 1,146.1 to the dollar at the conclusion of onshore trade, up nearly 1 per cent from Monday's close of 1,158.0.

South Korean shares extended gains into a second session as offshore investors increased purchases.

The Korea Composite Stock Price Index (KOSPI) closed 0.6 per cent higher at 2,094.05.

REUTERS

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