Seoul: Won ends at 7-week high, stocks ease as Brexit vote eyed
[SEOUL] The South Korean won finished at its highest level in seven weeks on Thursday as more investors bet Britain would choose to remain in the European Union in a referendum later in the day.
The won was quoted at 1,150.2 to the dollar at the conclusion of onshore trade, its strongest since May 4 of this year. It was up 0.4 per cent from Wednesday.
South Korean shares eased as some investors took profits ahead of the Brexit vote results, which will start trickling out early on Friday morning in Asia. Most opinion polls put the "Leave" and "Remain" camps neck-and-neck.
The Korea Composite Stock Price Index (Kospi) closed down 0.3 per cent at 1,986.71 points.
Foreign investors turned to net buyers near the end of the session, purchasing 29 billion won (S$33.7 million) worth of Kospi shares.
Shares of Hyundai Merchant Marine Co Ltd surged as much as 30 per cent after the company said is holding negotiations with 2M, a shipping alliance comprised of world's leading shipping companies.
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
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data
Hong Kong spot crypto ETFs to start trading next week