Seoul: Won skids to 14-mth low; shares up on bargain-buying
[SEOUL] The South Korean won slipped to a 14-month low on Wednesday, dropping as much as 1 percent in the morning session before paring losses in late trade as exporters sold the dollar for settlements.
The won was quoted at 1,096.0 to the dollar at the conclusion of onshore trade, compared to Tuesday's close of 1,091.6.
The currency fell to a session-low of 1,102.9, the first time it had broken through the psychologically important 1,100 level since September 2, 2013.
South Korean shares edged higher as bargain hunters picked up recent laggards including shipbuilders and petrochemicals.
The Korea Composite Stock Price Index (KOSPI) edged 0.22 per cent higher to close at 1,967.27 points.
REUTERS
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
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Israel hits back, markets react; STI down 0.4%
Oil jumps, equities fall as Iran blasts fan Middle East tensions
Tokyo: Nikkei index tumbles 3% in morning trade
Singapore shares open higher on Friday; STI up 0.2%