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14 days ago
S.Korea won up as dollar sags on Trump, stocks little changed
July 12, 2017 / 2:44 AM / 14 days ago

S.Korea won up as dollar sags on Trump, stocks little changed

3 Min Read

    * Won strengthens to more than 1-week high
    * Fed Chair Yellen's comments, U.S. economic data eyed
-analyst

    SEOUL, July 12 (Reuters) - The South Korean won       
climbed to a more than one-week high early on Wednesday as the
greenback weakened broadly following the disclosure of emails
that has put U.S. President Donald Trump's administration into
controversy.
    The emails, released by the president's son, Donald Trump
Jr., showed that he welcomed support from Russia for his
father's 2016 election campaign.             
    As of 0222 GMT, the won            was quoted at 1,145.2 to
the dollar, the highest intraday level since July 3. It was up
0.5 percent compared to Tuesday's close of 1,151.1.
    "The U.S. dollar made a big drop overnight and is still
having an influence on the won's movement for today," said Park
Sung-woo, a foreign exchange analyst at NH Futures.
    Park added that the most important market cues would come
from Federal Reserve Chair Janet Yellen's testimony to Congress
later in the day while major economic data from the United
States due to be released on Friday is also in focus.
    South Korean shares trade was tepid with the Korea Composite
Stock Price Index (KOSPI)         at 2,394.40 points, little
changed from the previous close.
    Offshore investors are on track to be net sellers of KOSPI
shares near mid-session.
    Tech giant Samsung Electronics             edged up for its
third consecutive session to a record intraday high trading
price of 2,470,000 won ($2,155.51) .
    Automobile manufacturer Hyundai Motor             gained
more than 2 percent.
    Decliners outnumbered advancers 476 to 315.
    September futures on three-year treasury bonds        
gained 0.04 point to 109.18. 
    
                       0222 GMT    Prev close
 Dollar/won             1,145.2       1,151.1
 Yen/won             10.0863/16       10.0752
 *KTB futures            109.18        109.14
 KOSPI                 2,394.40      2,396.00
 * Front-month futures on three-year treasury bonds
    


($1 = 1,145.9000 won)

 (Reporting by Dahee Kim; Editing by Sam Holmes)
  

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