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S.Korean won posts best gain in nearly 3-wks; stocks extend skid
April 28, 2014 / 6:15 AM / 4 years ago

S.Korean won posts best gain in nearly 3-wks; stocks extend skid

(For the midday report, please click )

SEOUL, April 28 (Reuters) - The South Korean won rose the most in nearly three weeks on Monday on demand from exporters for month-end settlements and on short covering by offshore funds.

The local currency was quoted at 1,035.0 against the dollar at the end of onshore trade, up 0.6 percent from Friday’s close at 1,041.5. That was its biggest daily percentage gain since a 1 percent rise on April 9.

In the stock market, the Korea Composite Stock Price Index (KOSPI) closed down 0.1 percent at 1,969.26 points, extending its losing streak to a fourth day. (Reporting by Jungmin Jang; Editing by Chris Gallagher)

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