Seoul: Won, stocks hit 1-week highs, investors rediscover risk appetite

[SEOUL] The South Korean won and shares strengthened to one-week highs on Monday as investors rediscovered their appetite for riskier assets due to growing speculation that Britain will vote to remain in the European Union.

The won was quoted at 1,160.8 to the dollar at the conclusion of onshore trade, up 1.0 per cent from Friday's close of 1,172.7.

The Korea Composite Stock Price Index (Kospi) closed up 1.4 per cent at 1,981.12 points.

Foreign investors bought a net 21.3 billion won (S$24.66 million) worth of Kospi shares, while domestic institutions purchased a net 117.0 billion won.

REUTERS