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SEOUL May 11 The South Korean won rose
on hopes that the newly formed government of President Moon
Jae-in will help boost economic growth through expansionary
Foreign investors extended their buying spree of local
equities, which provided additional support for the currency.
The won was quoted at 1,127.9 to the dollar at
the conclusion of onshore trade, up 0.7 percent compared to
Wednesday's close of 1,135.8.
South Korean shares also rebounded on improved risk
The Korea Composite Stock Price Index (KOSPI) closed
up 1.1 percent at 2,295.49 points.
Offshore investors have been buyers for five straight
sessions, purchasing a net 105.1 billion won ($93.15 million)
worth of KOSPI shares for the day.
(Reporting by Dahee Kim; Editing by Shri Navaratnam)