August 22, 2017 / 6:50 AM / 10 months ago

S.Korean stocks, won step up to 2-week high as N.Korea jitters ease

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SEOUL, Aug 22 (Reuters) - South Korean shares and won both ended around two-week highs on Tuesday as tensions between the United States and North Korea eased, prompting investors to move back into riskier assets.

However, gains were tempered by caution ahead of the Federal Reserve’s annual central banking conference in Wyoming later this week.

The Korea Composite Stock Price Index (KOSPI) closed up 0.4 percent at 2,365.33 points, the highest closing level since Aug. 9.

Domestic institutions added a net 89.3 billion won ($78.77 million) worth of KOSPI shares to their portfolios, offsetting foreign selling of worth a net 25.8 billion won.

The South Korean won was given additional support from exporters’ increased month-end dollar-selling.

The won ended onshore trade at 1,133.8 to the dollar, its strongest closing level since Aug. 8. It was up 0.5 percent on the day. (Reporting by Dahee Kim; Editing by Kim Coghill)

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