Seoul: Won, stocks edge down ahead of Fed policy meeting
[SEOUL] The South Korean won snapped a three-session winning streak on Tuesday as investors trimmed their exposure to the currency ahead of the outcome of the US Federal Reserve's policy meeting later this week.
The Bank of Japan decided to hold its policy steady earlier in the session and offered a bleaker economic view, but the widely-expected decision had little impact on local markets.
The won was quoted at 1,187.7 to the US dollar at the conclusion of onshore trade, down 0.1 per cent compared to Monday's close of 1,186.1.
South Korean shares edged lower after rising over the past four days.
The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,969.95 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
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%