Seoul: Won, stocks up as US dollar weakens in global markets

[SEOUL] The South Korean won and shares erased recent sharp losses on Tuesday as the greenback took a pause in global markets after its near 10-day rally.

The won was quoted at 1,176.1 to the US dollar at the conclusion of onshore trade, up 0.9 per cent from Monday's close of 1,186.6.

The Korea Composite Stock Price Index (Kospi) closed up 0.9 per cent at 1,983.47 points, marking its highest level since Nov 11.

Foreign investors bought a net 78 billion won (S$92 million) worth of Kospi shares, supporting the main bourse.

REUTERS