Seoul: Won stronger as Fed views dent dollar, stocks rise

[SEOUL] The South Korean won ended at its highest level in more than a week as the dollar sagged after release of Federal Reserve meeting minutes that some analysts read as signalling it will delay the next rate hike.

Investors' demand for the won also rose after President Donald Trump praised North Korean leader for deciding not to launch missiles towards Guam.

The won was quoted at 1,137.2 to the US dollar at the conclusion of onshore trade, up 0.4 per cent from Wednesday's close of 1,141.5.

South Korean shares rose for a third straight day, finishing at a one-week high, amid eased tensions between the United States and Pyongyang.

The Korea Composite Stock Price Index (Kospi) closed up 0.6 per cent at 2,361.67 points.

Foreign investors returned to the bourse, snapping a five-day selling streak, and bought a net 52.6 billion won (S$63.16 million) of Kospi shares.

REUTERS