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Seoul: Won pares recent losses, stocks edge up

Tuesday, August 23, 2016 - 15:01
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[SEOUL] The South Korean won strengthened on Tuesday, recovering from recent losses as investors dumped the US dollar on profit-taking.

The won was quoted at 1,115.6 to the US dollar at the conclusion of onshore trade, up one per cent compared with Monday's close of 1,126.5.

South Korean shares ended higher as market heavyweight Samsung Electronics Co Ltd rose to support the main board, hitting a record high.

The Korea Composite Stock Price Index (Kospi) closed up 0.4 per cent at 2,049.93 points.

Samsung Electronics rose more than one per cent during the session.

Foreign investors turned to buyers right before the closing bell, purchasing a net 45.2 billion won (S$54.76 million) worth of Kospi shares.

REUTERS