Seoul: Won ends at 7 week high on broad US dollar weakness; stocks rise
[SEOUL] The South Korean won sped to a seven-week closing high on Thursday as exporter-sales of US dollars added to broad weakness for the US currency.
The won was quoted at 1,159.2 to the US dollar at the conclusion of onshore trade, its highest since December 8, 2016. It was up 0.6 per cent compared to Wednesday's close of 1,166.0.
South Korean shares also ended higher thanks to strong US stocks, with the Korea Composite Stock Price Index (Kospi) closing up 0.8 per cent at 2,083.59 points.
Foreign investors bought a net 349.2 billion won (S$427.66 million) worth of Kospi shares.
South Korean market will be closed from Friday to Monday for national holidays.
REUTERS
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
Europe: Shares end higher on tech support; banks slide
US: Stocks rally on cooler hiring numbers
Singapore stocks end week in the red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%