Seoul: Won slips as Chinese yuan eases, shares steady

[SEOUL] The South Korean won weakened against the US dollar on Wednesday after the Chinese yuan eased against the greenback despite the People's Bank of China's firmer midpoint setting.

The won was quoted at 1,161.2 to the US dollar at the conclusion of onshore trade, down 0.7 per cent from Tuesday's close of 1,153.6.

South Korean shares ended steady as foreigners turned into net buyers near the end of the session.

The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,995.12 points.

Foreign investors have been net buyers for 10 consecutive sessions. On Wednesday, they bought 7.7 billion won (S$9.04 million) worth of shares.

REUTERS