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Seoul: Won, stocks finish at two-week highs on Fed decision

Thursday, September 22, 2016 - 14:53
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[SEOUL] The South Korean won and shares ended at their highest in two weeks on Thursday as the US Federal Reserve's decision to keep interest rates unchanged showed that it would tighten its monetary policies at a slower pace.

The won was quoted at 1,103.3 to the US dollar at the conclusion of onshore trade, strongest since Sept 9. It was up 1.5 per cent compared with Wednesday's close of 1,120.1.

The Korea Composite Stock Price Index (Kospi) closed up 0.7 per cent at 2,049.70, marking its highest level since Sept 8.

Foreign investors have been net buyers for five consecutive sessions, purchasing 149.7 billion won (S$184.80 million) worth of Kospi shares on Thursday.

REUTERS