Seoul:The South Korean won continued to strengthen against the U.S. dollar as local exporters converted their dollar earnings into the Korean currency.
According to Yonhap News Agency, the won was quoted at 1,352.8 per dollar at 3:30 p.m., marking an increase of 3.9 won compared to the previous trading session's close. This appreciation occurred despite the upward movement of yields on longer-dated U.S. Treasuries.
Market participants are also closely monitoring upcoming U.S. inflation and employment data, which are anticipated to provide insights into the future direction of the Federal Reserve's monetary policy.
In the stock market, foreign investors sold a net 2.05 trillion won (approximately US$1.53 billion) worth of local stocks during the latest regular trading session. Consequently, the benchmark Korea Composite Stock Price Index fell by 0.48 percent, closing at 6,838.04.