S.Korean won skids for a 5th day before Fed meeting outcome

Wed Jun 18, 2014 2:12am EDT

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SEOUL, June 18 (Reuters) - The South Korean won ended slightly weaker against the dollar on Wednesday, easing for a fifth straight session as a high U.S. inflation number fuelled speculation the Federal Reserve might consider an earlier-than-expected rate hike.

However, exporters bought the won on dips for settlements to pare earlier losses.

The local currency was quoted at 1,022.4 per dollar at the end of onshore trade, compared with Tuesday's close at 1,021.9.

The won's five-day losing streak is its longest since mid-January.

The Korea Composite Stock Price Index (KOSPI) closed down 0.6 percent at 1,989.49 points, with domestic institutional investors offloading blue-chip names prior to the end of the Fed meeting later in the global day.

Institutional investors sold a net 143.7 billion won ($141.19 million) of KOSPI shares, pulling Samsung Electronics Co Ltd and Hyundai Motor Co down 1.2 percent and 1.5 percent, respectively. ($1 = 1017.8000 South Korean Won) (Reporting by Jungmin Jang)

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