South Korean won ends at 7 week high, stocks ease as Brexit vote eyed

By: |
Seoul | Updated: June 23, 2016 12:44:00 PM

The South Korean won finished at its highest level in seven weeks on Thursday as more investors bet Britain would choose to remain in the European Union in a referendum later in the day.

The won was quoted at 1,150.2 to the dollar at the conclusion of onshore trade, its strongest since May 4 of this year. It was up 0.4 percent from Wednesday. (Reuters)The won was quoted at 1,150.2 to the dollar at the conclusion of onshore trade, its strongest since May 4 of this year. It was up 0.4 percent from Wednesday. (Reuters)

The South Korean won finished at its highest level in seven weeks on Thursday as more investors bet Britain would choose to remain in the European Union in a referendum later in the day.

The won was quoted at 1,150.2 to the dollar at the conclusion of onshore trade, its strongest since May 4 of this year. It was up 0.4 percent from Wednesday.

South Korean shares eased as some investors took profits ahead of the Brexit vote results, which will start trickling out early on Friday morning in Asia.

Most opinion polls put the “Leave” and “Remain” camps neck-and-neck.

The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at 1,986.71 points.

Foreign investors turned to net buyers near the end of the session, purchasing 29 billion won ($25.24 million) worth of KOSPI shares.

Shares of Hyundai Merchant Marine Co Ltd surged as much as 30 percent after the company said is holding negotiations with 2M, a shipping alliance comprised of world’s leading shipping companies.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

FinancialExpress_1x1_Imp_Desktop