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S.Korean won hits fresh 6-year high; stocks inch down
July 3, 2014 / 6:17 AM / in 3 years

S.Korean won hits fresh 6-year high; stocks inch down

(For the midday report, please click )

SEOUL, July 3 (Reuters) - The South Korean won hit a fresh six-year high against the dollar on Wednesday, finishing the session marginally higher in slow trade before the U.S. nonfarm payrolls report later in the day, while stocks edged lower on profit-taking.

The won hit as high as 1,008.5 near market close, its strongest level since July 30, 2008. It was quoted at 1,008.5 versus the dollar at the end of onshore trade, up 0.1 percent from Wednesday’s 1,009.2.

The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,010.97 points, paring Wednesday’s 0.8 percent gain.

Domestic institutional investors offloaded a net 127 billion won ($127 million) worth of KOSPI shares, bringing heavyweights Samsung Electronics Co Ltd and Hyundai Motor Co down 0.9 percent and 1.1 percent, respectively.

Foreign capital inflows underpinned the main bourse and the won as offshore investors picked up 164 billion won worth of shares to position as net buyers for a sixth straight session.

$1 = 1008.1000 South Korean Won Reporting by Jungmin Jang; Editing by Eric Meijer

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