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S.Korean won jumps on dollar selling; stocks extend gains
March 7, 2017 / 6:49 AM / 8 months ago

S.Korean won jumps on dollar selling; stocks extend gains

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SEOUL, March 7 (Reuters) - The South Korean won rose sharply on Tuesday as investors sold dollars to book profits on expectation that a potential March Fed rate hike has been fully priced in.

The won was quoted at 1,146.1 to the dollar at the conclusion of onshore trade, up nearly 1 percent from Monday’s close of 1,158.0.

South Korean shares extended gains into a second session as offshore investors increased purchases.

The Korea Composite Stock Price Index (KOSPI) closed 0.6 percent higher at 2,094.05.

Foreign investors bought a net 96.6 billion won ($84.31 million) worth of KOSPI shares. (Reporting by Dahee Kim; Editing by Subhranshu Sahu)

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