Seoul: Won moves to 1-month high on stronger yuan; stocks edge up

[SEOUL] The South Korean won jumped to its highest in a month after the People's Bank of China to set the yuan's midpoint at its strongest so far this year.

The won closed at 1,193.1 per dollar at the end of onshore trade, up 0.9 per cent from Thursday's close of 1,203.5.

It reached as high as 1,193.0 midday, which was the highest intraday level since Feb. 11.

South Korean shares edged up on Friday, with trading tepid as investors took a cautious stance ahead of a Federal Reserve policy meeting.

The Korea Composite Stock Price Index (KOSPI) closed up 0.1 per cent at 1,971.41 points.

On a weekly basis, stocks rose 0.8 per cent, marking four consecutive weeks of gains.

REUTERS