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S.Korean won flat as dollar recovers, stocks edge up
March 29, 2017 / 6:44 AM / 8 months ago

S.Korean won flat as dollar recovers, stocks edge up

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SEOUL, March 29 (Reuters) - The South Korean won eased on Wednesday as the dollar regained strength on upbeat U.S. economic data, but the local currency’s further loss was prevented by exporters’ month-end dollar selling.

The won was quoted at 1,114.2 to the dollar at the conclusion of onshore trade, down 0.1 percent compared with Tuesday’s close of 1,113.

South Korean shares edged up supported by stronger U.S. stocks though the gains were capped as foreign investors and institutions offloaded local equities.

The Korea Composite Stock Price Index (KOSPI) closed up 0.2 percent at 2,167.

Offshore investors sold a net 53 billion won ($47.6 million) worth of KOSPI shares while the institutions offloaded 32.5 billion won worth. (Reporting by Dahee Kim; Editing by Gopakumar Warrier)

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