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SEOUL, March 16 The South Korean won
strengthened to its highest close in more than two weeks on
Thursday as market players grew confident that the Federal
Reserve will hike U.S. interest rates gradually.
The won was quoted at 1,132.0 to the dollar at
the conclusion of onshore trade, its highest since Feb. 28. It
was up 1 percent compared to Wednesday's close of 1,146.3.
South Korean shares were also supported by Chair Janet
Yellen's comments after a Fed policy meeting and reached their
strongest closing level in near 23 months.
The Korea Composite Stock Price Index (KOSPI) ended
up 0.8 percent at 2,150.08 points, the highest close since April
Foreign investors were net buyers for a ninth straight
session, purchasing 271.6 billion won ($240.15 million) of KOSPI
shares for the day.
(Reporting by Dahee Kim; Editing by Richard Borsuk)