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S.Korea won edges down following 4-day gain, stocks flat
May 17, 2017 / 2:40 AM / 5 months ago

S.Korea won edges down following 4-day gain, stocks flat

    * Global economic data, U.S. political risks eyed -analyst
    * KOSPI flat on profit-taking
    * Foreign investors selling stocks for four straight
sessions

    SEOUL, May 17 (Reuters) - The South Korean won        edged
down early on Wednesday as  investors took profits after
currency hit six-week high a day earlier. 
    The won            was quoted at 1,118.7 to the dollar as of
0229 GMT, down 0.2 percent compared to Tuesday's close of
1,116.0.
    Jeong My-young, a foreign exchange analyst at Samsung
Futures said that the won seems to be making technical movements
amid the absence of any decisive market momentum. 
    "Markets' focus should be on economic data from the global
economy and political turmoil going on in the United States,"
added Jeong.
    The dollar was broadly weaker following reports that U.S.
President Donald Trump asked then-FBI Director James Comey to
end the agency's investigation into ties between former White
House national security adviser and Russia, raising questions
whether there had been any attempt to obstruct justice.
            
    South Korean shares were also flat due to profit-taking
among investors.
    The Korea Composite Stock Price Index (KOSPI)         was
down 0.3 percent at 2,189.37 points.
    Offshore investors were poised to be net sellers for four
straight sessions, offloading 24.9 billion Korean won ($22.26
million) worth of KOSPI shares near mid-session. 
    Shares of Lotte Shopping             rose more than 4
percent while Amorepacific             gained nearly 2 percent. 
    Decliners outnumbered advancers 460 to 344.
    June futures on three-year treasury bonds         gained
0.07 point to 109.38. 
    
                       0229 GMT    Prev close
 Dollar/won             1,118.7       1,116.0
 Yen/won             9.9360/387        9.8564
 *KTB futures            109.38        109.31
 KOSPI                 2,189.37      2,195.33
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim; Editing by Simon Cameron-Moore)
  

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