June 22, 2017 / 3:16 AM / 2 months ago

South Korea's won climbs back from 2-month low, stocks steady

    * KOSPI trapped in narrow range on lack of momentum
    * Won finds some support from local exporters

    SEOUL, June 22 (Reuters) - Declining global dollar demand
and local exporters lent some support to the South Korean won
       early on Thursday after it was pushed to a two-month low
in the previous session. 
    The won            was quoted at 1,140.8 per dollar as of
0241 GMT, up 0.3 percent from Wednesday's onshore close.
    "We're seeing steady dollar sales from local exporters while
offshore demand for the dollar has been calming somewhat,
boosting the won," said a bank dealer in Seoul, who requsted
anonymity because he was not authorised to speak to media.
    "However, there are some dollar purchases on expectations
the won will fall again in the short term," he added.
    South Korean shares         inched up on retail interest 
and as global oil prices crawled up.
    The Korea Composite Stock Price Index (KOSPI) was up 0.2
percent at 2,361.88 points.
    Shares in SK Hynix             reached a record high and was
trading up around 1.4 percent after the chip company said on
Wednesday it was part of a Japan-led consortium chosen as the
preferred bidder for Toshiba Corp's          computer memory
business.
    Samsung Elec             was up 0.7 percent towards midday.
    The KOSPI 200 benchmark of core stocks          was up 0.2
percent, while the junior KOSDAQ         also edged 0.2 percent
higher.
    September futures on three-year treasury bonds         added
0.01 point to trade at 109.41.
    
                       0240 GMT    Prev close
 Dollar/won             1,140.8       1,144.0
 Yen/won            10.2785/830       10.2551
 *KTB futures            109.41        109.40
 KOSPI                 2,361.88      2,357.53
 * Front-month futures on three-year treasury bonds

 (Reporting by Christine Kim and Yena Park; Editing by Eric
Meijer)
  

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