Seoul: Won, shares end at highest level in 2016 on dovish Fed
[SEOUL] South Korea's won and stocks recorded their highest levels in 2016 on Friday as the US dollar continued to struggle following the Federal Reserve's dovish stance on future rate hikes earlier this week.
The local currency was quoted at 1,162.5 to the dollar at the conclusion of onshore trade, its strongest closing level since Dec 4 last year. The won was up 0.9 per cent compared to Thursday's close of 1,173.3.
The Korea Composite Stock Price Index (KOSPI) recorded more modest gains due to profit-taking, closing up 0.2 per cent at 1,992.12 points.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Mixed trading in Asia as investors watch for further macro data; STI down 0.2%
Vietnam delays launch of new stock trading system
Hong Kong bourse regains favour on hopes of a market revival
Asia: Markets rise as strong US tech earnings offset poor data
Singapore shares open lower on Friday; STI down 0.1%
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard