Seoul: Won rises for 4th day; shares down

[SEOUL] The South Korean won rose for the fourth straight session on Wednesday, nearing a six-month high against the dollar as the greenback weakened after a tepid US consumer confidence report and on views the Federal Reserve may raise interest rates more gradually than initially expected.

The won ended onshore trade up 0.1 per cent at 1,068.6 per dollar, the highest level since Oct 31. On Tuesday, it closed at 1,070.0.

The Korea Composite Stock Price Index (KOSPI) slipped 0.2 per cent to 2,142.63 points, its fourth consecutive loss.

Shares in LG Electronics erased early losses to edge up 0.3 per cent after announcing its first-quarter earnings during afternoon trade.

REUTERS