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S.Korean won closes near 6-year high; stocks edge down
June 9, 2014 / 6:15 AM / 3 years ago

S.Korean won closes near 6-year high; stocks edge down

(For the midday report, please click )

SEOUL, June 9 (Reuters) - The South Korean won hit a near six-year peak against the dollar on Monday, supported by persistent stock inflows and in catch-up trade after the European Central Bank eased policy and amid intervention caution.

South Korean financial markets were closed on Friday for Memorial Day.

The local currency was quoted at 1,016.2 versus the dollar at the end of onshore trade, up 0.4 percent from Thursday’s close of 1,020.5. The won strengthened as high as 1,016.0 per dollar in the session, the strongest since Aug. 7, 2008.

Foreign investors positioned as net buyers for 18 consecutive sessions by picking up 21.3 billion won ($20.96 million) worth of KOSPI shares.

The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at 1,990.04 points, its weakest close since May 13, hit by profit taking in the units of Samsung Group.

Samsung Electronics Co Ltd, which accounts for almost 16 percent of the main index, dropped 3.3 percent to mark its biggest daily percentage loss since Jan. 2.

$1 = 1016.1000 South Korean Won Reporting by Jungmin Jang; Editing by Jacqueline Wong

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