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S.Korean won, stocks recover as investors digest North Korea risks
April 12, 2017 / 7:15 AM / in 7 months

S.Korean won, stocks recover as investors digest North Korea risks

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SEOUL, April 12 (Reuters) - The South Korean won and shares recovered on Wednesday from a six-day decline as investor risk appetite appeared to recover slightly.

The won was quoted at 1,141.4 to the dollar at the conclusion of onshore trade, up 0.4 percent compared to Tuesday’s close of 1,145.8.

The Korea Composite Stock Price Index (KOSPI) closed up 0.2 percent at 2,128.81 points.

Offshore investors ended a seven-day run of selling KOSPI shares and purchased a net 67.4 billion won ($59.06 million) worth.

The premium for South Korean credit default swaps (CDS), however, rose to its highest level in nine months on Wednesday, as investors viewed the country’s sovereign notes as a riskier bet given elevated tensions between North Korea and the United States. (Reporting by Dahee Kim)

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