August 30, 2017 / 7:00 AM / a year ago

S.Korean won, stocks recover as worries on North Korea recede

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SEOUL, Aug 30 (Reuters) - The South Korean won on Wednesday pared some of the previous day’s losses and the benchmark share index erased all of its retreat as worries about North Korea, which on Tuesday launched missile that went over Japan, receded.

The won was quoted at 1,124.2 to the dollar at the conclusion of onshore trade, up 0.2 percent compared to Tuesday’s close of 1,126.4. On Tuesday, the won had an 0.6 percent loss.

The Korea Composite Stock Price Index (KOSPI), which lost 0.2 percent on Tuesday, closed up 0.3 percent at 2,372.29 points because buying by domesitc institutions offset foreign selling.

Offshore investors turned to net sellers and unloaded 66.8 billion won ($59.45 million) of KOSPI shares. Domestic institutions purchased 163.5 billion won worth of shares. (Reporting by Dahee Kim; Editing by Richard Borsuk)

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