S Korean stocks flat; won edges higher

Dhaka,  Fri,  21 July 2017
Published : 14 Jun 2017, 13:24:11
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S Korean stocks flat; won edges higher

S Korean stocks flat; won edges higher
The South Korean shares ended flat to lower on Wednesday before the US Federal Reserve's June policy decision later in the day. 

The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 2,372.64 points. The shares ended weaker weighed by local institutions and foreign investors' selling of local equities.

South Korean won finished higher as exporters and investors sold the dollar and booked profits.

The won was quoted at 1,123.9 to the dollar at the conclusion of onshore trade, up 0.4 per cent versus Tuesday's close of 1,128.3.

The Fed is widely expected to raise interest rates at its meeting, but a sluggish dollar means Asian currencies are seen as less vulnerable to the risk of outflows than in the past.

The institutions sole a net 133.3 billion won ($118.60 million) worth of KOSPI shares and foreigners a net 34.9 billion won worth, according to Reuters.
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