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S.Korean won, stocks strenthen as Fed seems cautious about rate hike
October 18, 2016 / 6:41 AM / a year ago

S.Korean won, stocks strenthen as Fed seems cautious about rate hike

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SEOUL, Oct 18 (Reuters) - The South Korean won and shares rose on Tuesday as Federal Reserve Vice Chair Stanley Fischer’s cautious stance on interest rate hikes weighed on the greenback.

The won was quoted at 1,129.4 to the dollar at the conclusion of onshore trade, up 0.8 percent compared to Monday’s close of 1,137.9.

The Korea Composite Stock Price Index (KOSPI) closed up 0.6 percent at 2,040.43 points.

Offshore investors have been net buyers for four consecutive sessions, purchasing 194.0 billion won ($174.03 million) worth of KOSPI shares for the day. (Reporting by Dahee Kim; Editing by Kim Coghill)

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