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S.Korean won slips for a 4th day, stocks edge higher
June 17, 2014 / 6:11 AM / 3 years ago

S.Korean won slips for a 4th day, stocks edge higher

(For the midday report, please click )

SEOUL, June 17 (Reuters) - The South Korean won weakened against the dollar on Tuesday for the fourth straight session as escalating violence in Iraq took a toll on investors’ appetite for riskier assets, but demand from exporters limited the downside.

The won was quoted at 1,021.9 per dollar at the end of onshore trade, down 0.2 percent from Monday’s 1,020.1 and the weakest close since June 4.

The Korea Composite Stock Price Index (KOSPI) closed up 0.4 percent at 2,001.55 points, above the psychologically important 2,000 threshold, as the weaker won sparked a rally in auto shares.

Hyundai Motor Co advanced 2 percent, the biggest daily percentage gain since May 14, while affiliate Kia Motors Corp ended 2.1 percent higher. (Reporting by Jungmin Jang; Editing by Kim Coghill)

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