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S.Korea won edges up on end-May dollar-selling, stocks rebound
May 31, 2017 / 2:42 AM / 6 months ago

S.Korea won edges up on end-May dollar-selling, stocks rebound

    * Won trading tight; U.S. jobs, S.Korea exports awaited
    * KOSPI makes a rebound after Tuesday's sudden drop

    SEOUL, May 31 (Reuters) - The South Korean won        edged
up on Wednesday on moderate support from exporters' end-month
dollar-selling, but remained confined to a tight trading range
as investors awaited economic data in coming days.
    The won            was quoted at 1,122.3 as of 0209 GMT, up
0.2 percent compared with Tuesday's close of 1,125.1.
    "Market players are not seeing today's movement as a
meaningful one. The won will keep to its narrow range following
the amount of dollar-selling from the exporting companies," said
Jung Sung-yoon, a foreign exchange analyst at Hyundai Futures.
    Jung said traders are more focused on economic indicators
such as U.S. jobs and South Korea's export data this week as
well as political uncertainties in Europe.
    French President Emmanuel Macron's pledge of clean
leadership hit another snag on Tuesday when a second minister in
his government had to deny accusations by political opponents of
financial misconduct days before parliamentary elections.
    After a sharp fall the previous day, South Korean shares
rebounded modestly on buying by local institutions and foreign
    The Korea Composite Stock Price Index (KOSPI)         was up
0.4 percent at 2,354.07 points.
    Offshore investors bought a net 17.8 billion won ($15.86
million) worth of KOSPI shares near mid-session, while domestic
institutions purchased a net 14.8 billion won worth.  
    Shares of LG Display             gained 1.8 percent while
Hyundai Mobis             lost 2.3 percent. 
    Advancers outnumbered decliners 426 to 359.
    June futures on three-year treasury bonds         gained
0.02 point to 109.59. 
                       0209 GMT    Prev close
 Dollar/won             1,122.3       1,125.1
 Yen/won             10.1154/17       10.1343
 *KTB futures            109.59        109.57
 KOSPI                 2,354.07      2,343.68
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)

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