Seoul: Won, stocks finish highest in 2016 on sparked risk demand

[SEOUL] The South Korean won and shares hit their strongest levels of the year so far on Wednesday as the cautious stance struck by US Federal Reserve Chair Janet Yellen over the outlook for US interest rates aroused risk demand among investors globally.

The won peaked at 1,150.8 at the conclusion of onshore trade, its highest point since November 27. The won was up 1.1 per cent compared to Tuesday's close of 1,163.8, posting the biggest percentage gain for two weeks.

The Korea Composite Stock Price Index (KOSPI) closed up 0.4 per cent at 2,002.14 points.

Foreign investors supported the main board by purchasing a net 42.0 billion won worth of shares.

REUTERS