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S.Korean won pares losses on exporter dollar sales; shares hurt by Samsung
December 21, 2016 / 6:52 AM / a year ago

S.Korean won pares losses on exporter dollar sales; shares hurt by Samsung

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SEOUL, Dec 21 (Reuters) - The South Korean won pared earlier losses on Wednesday as exporters’ dollar-selling and expectations foreign exchange authorities will step in to smooth any one-sided FX moves supported the currency.

The won was quoted at 1,193.9 to the dollar at the conclusion of onshore trade, almost steady Tuesday’s close of 1,193.4.

South Korean shares turned negative as Samsung Electronics reversed course to snap a three-day rally.

The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,037.96 points.

Offshore investors bought a net 78.0 billion won ($65.39 million) worth of KOSPI shares. ($1 = 1,192.8500 won) (Reporting by Dahee Kim; Editing by Shri Navaratnam)

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