December 27, 2016 / 2:34 AM / 7 months ago

S.Korea won steps down on firm dollar; stocks edge up

2 Min Read

* Won's direction to be decided by greenback this week
-analyst
    * KOSPI set to rise for 3 consecutive sessions

    SEOUL, Dec 27 (Reuters) - The South Korean won 
slipped early on Tuesday as the greenback stood tall against a
basket of currencies while investor sentiment in Korea cooled
ahead of the new year.
    The won was quoted at 1,205.9 as of 0229 GMT,
down 0.4 percent compared to Monday's close of 1,201.4.
    "The won's movement for this week will be decided by the
dollar," said Jeong My-young, a foreign exchange analyst at
Samsung Futures.
    She added that even the exporters' month-end dollar selling
for this month won't be enough to turn the sentiment around and
support the local currency.
    South Korean shares were slightly up by 0.2 percent, and the
Korea Composite Stock Price Index (KOSPI) stood at
2,041.32 point4s.
    Offshore investors were expected to be net buyers,
purchasing 31.8 billion Korean won ($26.39 million) worth of
KOSPI shares near mid-session. 
    Shares of Cheil Worldwide Inc rose nearly 5
percent as the market expected the company's fourth-quarter
earnings data to be surprisingly high. 
    LG Display Co Ltd lost 1.4 percent.
    Advancers outnumbered decliners 412 to 335.
    March futures on three-year treasury bonds shed 0.03
point to 109.44. 

                       0209 GMT    Prev close
 Dollar/won             1,205.9       1,201.4
 Yen/won             10.2640/29       10.2467
 *KTB futures            109.45        109.48
 KOSPI                 2,041.32      2,037.75
 * Front-month futures on three-year treasury bonds

 (Reporting By Eric Meijer)

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