Seoul: Won pares gains, stocks edge up

[SEOUL] The South Korean won trimmed its earlier gains on Tuesday, with investors buying US dollars and dragging the won down to a near two-week low.

The won was quoted at 1,118.8 to the US dollar at the conclusion of onshore trade, the lowest since Sept 1. It was down 0.5 per cent compared to Monday's close of 1,113.5.

South Korean shares rose on foreign stock purchases, with the Korea Composite Stock Price Index (Kospi) closing up 0.4 per cent at 1,999.36 points.

Foreign investors bought a net 242.5 billion won (S$294.79 million) worth of Kospi shares for the day.

South Korea's markets will be closed from Wednesday to Friday for a national holiday and trade will resume on Sept 19.

REUTERS