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Seoul: Won, stocks end up on global risk rally

Thursday, June 30, 2016 - 14:52
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[SEOUL] The South Korean won and shares strengthened on Thursday, as Wall Street and global oil prices rose to help boost investor appetite for riskier assets.

The won was quoted at 1,151.8 to the dollar at the conclusion of onshore trade, up 0.7 per cent compared with Wednesday's close of 1,160.2.

The currency was around 3.5 per cent stronger against the dollar on a monthly basis, while marking a slight loss for the quarter.

South Korean shares were also largely supported by foreign stock purchases.

The Korea Composite Stock Price Index (KOSPI) closed up 0.7 per cent at 1,970.35 points.

Offshore investors purchased a net 187.6 billion won (S$219.5 million) worth of KOSPI shares.

Shares lost 0.7 per cent for the month, its third straight losing month. For the quarter, shares lost 1.3 per cent.

REUTERS