September 1, 2017 / 6:59 AM / 23 days ago

S.Korean won up on robust exports; stocks dip

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SEOUL, Sept 1 (Reuters) - The South Korean won firmed on Friday, boosted by stronger-than-expected exports and data showing that inflation had surged to a more than five-year high.

The won was quoted at 1,122.8 to the dollar at the conclusion of onshore trade, up 0.4 percent from Thursday’s close of 1,127.8.

It rose 0.5 percent for the week, posting its third consecutive week of gains.

South Korean shares edged down as local institutions stepped up selling, but losses were capped after foreign investors turned to net buyers later in the session.

The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,357.69 points.

The KOSPI lost 0.9 percent for the week. The index ended August down 1.6 percent, snapping the longest-ever monthly run of eight months.

Domestic institutions unloaded a net 202.7 billion won ($180.69 million) worth of KOSPI shares, while offshore investors purchased a net 76.3 billion won worth. (Reporting by Dahee Kim; Editing by Kim Coghill)

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