The Business Times

Seoul: Won, shares subdued in choppy trade ahead of holidays

Published Tue, Feb 17, 2015 · 06:57 AM
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[SEOUL] The South Korean won edged up against the dollar on Tuesday in a session characterised by cautious trade as investors curbed bets ahead of a long holiday break.

The won was quoted at 1,101.8 to the dollar at the conclusion of onshore trade, compared to 1,102.4 at Monday's close.

South Korean shares edged higher, led by hefty gains in financials and auto stocks although underlying sentiment was soured by news of a breakdown in debt talks between Greece and its creditors.

The Korea Composite Stock Price Index (KOSPI) closed up 0.16 per cent at 1,961.45 points.

Market reaction was largely muted to the Bank of Korea's widely expected decision to keep its policy interest rate unchanged on Tuesday.

The South Korean financial markets will be closed for three days from Wednesday through Friday for the Lunar New Year holidays. Markets will resume trade on Monday, February 23.


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