1. South Korean stocks hit record high; won falls on safe-haven demand

South Korean stocks hit record high; won falls on safe-haven demand

South Korean stocks rose for the third consecutive session to a record high on Tuesday, supported by strong demand from local institutions. Local institutions bought a net 281.3 billion won ($250.34 million) worth of KOSPI shares, while foreign investors sold a net 54.9 billion won worth.

By: | Published: May 23, 2017 1:43 PM
he Korea Composite Stock Price Index (KOSPI) climbed to an all-time high of 2,326.57 points, before closing up 0.3 percent at 2,311.74.

South Korean stocks rose for the third consecutive session to a record high on Tuesday, supported by strong demand from local institutions. The Korea Composite Stock Price Index (KOSPI) climbed to an all-time high of 2,326.57 points, before closing up 0.3 percent at 2,311.74.

Local institutions bought a net 281.3 billion won ($250.34 million) worth of KOSPI shares, while foreign investors sold a net 54.9 billion won worth. The South Korean won weakened against the dollar as investors sought safe havens following a bomb attack in Manchester, England, that killed at least 22 people.

The won was quoted at 1,124.2 to the dollar at the conclusion of onshore trade, down 0.5 percent versus Monday’s close of 1,118.6.

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