Seoul: Won extends gains to 2-week high while Kospi ends flat
[SEOUL] The South Korean won finished at a nearly two-week high on Wednesday, bolstered by foreign demand for local stocks and exporters' dollar sales.
The won's upside was capped, however, as caution prevailed ahead of the Federal Reserve's policy meeting later in the global day.
The won was quoted at 1,143.6 to the US dollar at the conclusion of onshore trade, up 0.5 per cent compared to Tuesday's close of 1,148.8. It was the highest closing level since March 2.
South Korean shares erased earlier losses as offshore investors turned to net buyers, continuing their buying spree for an eighth straight session.
The Korea Composite Stock Price Index (Kospi) ended a tick lower at 2,133.00 points, easing off the previous day's near 20-month high.
Offshore investors purchased a net 120.3 billion won (S$149.01 million) worth of Kospi shares for the day.
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
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Singapore stocks track Wall Street gains on Tuesday; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN