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5 months ago
S.Korea won, stocks stronger on firm March exports report
April 3, 2017 / 2:33 AM / 5 months ago

S.Korea won, stocks stronger on firm March exports report

    * S.Korea March exports beat expectations on strong global
demand
    * Fed officials' comments also support won -analyst

    SEOUL, April 3 (Reuters) - The South Korean won       
started the week firmer early on Monday as March exports data
issued at the weekend bolstered  the local currency, while the
dollar slumped globally.
    South Korea's exports grew more than expected in March
thanks to stronger global demand, even as souring relations with
China, its biggest trading partner, continued to pose risks to
the economy.             
    The won            was quoted at 1,113.4 as of 0221 GMT, up
0.5 percent versus Friday's close of 1,118.4.
    "In addition to strong exports, Federal Reserve officials'
comments also gave some support," said Jeon Seung-ji, a foreign
exchange analyst at Samsung Futures. 
    New York Fed President William Dudley said on Friday that
the Federal Reserve could begin shrinking its $4.5-trillion
balance sheet as soon as this year.             
    South Korean shares edged up with the help of upbeat exports
data, although offshore investors were set to be small net
sellers near mid-session.
    The Korea Composite Stock Price Index (KOSPI)         was up
0.3 percent at 2,166.67 points.
    Tech heavyweight LG Electronics             rose 1.3 percent
after six consecutive sessions of losses while Hyundai Motor
            lost more than 2 percent. 
    Advancing issues outnumbered decliners 434 to 353.
    June futures on three-year treasury bonds         gained
0.01 point to 109.47. 
    
                       0221 GMT    Prev close
 Dollar/won             1,113.4       1,118.4
 Yen/won             9.9877/102       10.0243
 *KTB futures            109.47        109.46
 KOSPI                 2,166.67      2,160.23
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Eric Meijer)
  

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