Seoul: Won ends firmer, helped by Park's appeal for exit strategy
[SEOUL] The South Korean won ended stronger as President Park Geun Hye appealed to parliament on Tuesday to find a way for her to step down amid an influence-peddling scandal that has eroded confidence in her leadership.
The third straight day of gains for the won also reflected a lull in the dollar's month-long advance.
By the close of onshore trade, the won stood at 1,168.5 per US dollar, up 0.2 per cent from Monday's close.
While Ms Park's request to parliament to help find her an exit was seen as a step toward resolving a political crisis that has rumbled on for weeks, analysts still expected the issue to drag on, giving little chance for the won to make longer term gains.
South Korean shares ended flat, with the Korea Composite Stock Price Index (Kospi) closing up 0.01 per cent at 1,978.39 points.
REUTERS
KEYWORDS IN THIS ARTICLE
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
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Asia: Markets build on Wall Street rally, yen holds bounce
Singapore shares open in the red on Tuesday; STI down 0.3%
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops