Reuters logo
S.Korea won steady as exporters offset stronger dollar
March 29, 2017 / 2:28 AM / 9 months ago

S.Korea won steady as exporters offset stronger dollar

    * Dollar's rise driven by hopes of more U.S. rate hikes in
    * Market believes dollar could weaken at any time -analyst
    * Foreigners set to mark 3rd straight stock-buying session

    SEOUL, March 29 (Reuters) - The South Korean won        was
steady early on Wednesday as month-end dollar-selling from local
exporters offset the greenback's rise driven by expectations of
more U.S. interest rate hikes this year. 
    The won            was quoted at 1,114.0 against the dollar
as of 0159 GMT, little changed from Tuesday's close of 1,113.0.
    The dollar bounced from 4-month lows after data showed U.S.
consumer confidence surged to a more than 16-year high in March.
    "Though the U.S. economic indicator pointed to a boost in
the economy there, most of the market players seem to believe
the dollar can turn weaker at any time," said Park Sung-woo, a
foreign exchange analyst at NH Futures.
    South Korean shares were also subdued with the Korea
Composite Stock Price Index (KOSPI)         flat at 2,164.13
    Foreign investors were set to be net buyers for three
consecutive days, purchasing 17.3 billion Korean won ($15.54
million) worth of KOSPI shares near mid-session. 
    The sub-index for transportation equipment         dropped
1.2 percent with Hyundai Motor             down more than 1
percent and Hyundai Mobis             dropping nearly 3 percent.
    Chipmaker SK Hynix             rose 2.5 percent on hopes of
strongest-ever quarterly earnings.
    Decliners outnumbered advancers 464 to 319.
    June futures on three-year treasury bonds         were
unchanged at 109.47. 
                       0159 GMT    Prev close
 Dollar/won             1,114.0       1,113.0
 Yen/won             10.0090/26       10.0316
 *KTB futures            109.47        109.47
 KOSPI                 2,164.13      2,163.31
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Amrutha Gayathri)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below