Seoul: Stocks rise, won trims gains on BOJ policy overhaul

[SEOUL] South Korean shares edged up on Wednesday after the Bank of Japan adopted a target for long-term interest rates in an overhaul of its massive monetary stimulus programme.

The Korea Composite Stock Price Index (Kospi) closed 0.5 per cent higher at 2,035.99, with foreign investors buying a net 88.3 billion won (S$107.48 million) worth of Kospi shares.

The won pared gains made earlier in the session, tracking the Japanese yen which weakened against the US dollar and euro after the BOJ's decision.

The South Korean currency was quoted at 1,120.1 to the US dollar at the conclusion of onshore trade, little changed compared with Tuesday's close of 1,120.6.

REUTERS