S.Korea won edges down after Brussels attack; shares flat

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SEOUL- The South Korean won inched down on Wednesday morning as the dollar strengthened globally following suicide bomb attack in the Belgian capital on Tuesday.

The won was quoted at 1,157.0 per dollar down 0.3 per cent compared to Tuesday’s close at 1,153.6.

“Statements from Chicago Fed President Charles Evans also drove the dollar up, along with the terror in Brussels,” said Jeon Seung-ji, a foreign exchange analyst at Samsung Futures.

On Tuesday, Evans said he expects two more rate hikes this year, showing optimistic outlook on the US economy.

South Korean shares were flat amid thin trading as market participants became wary of riskier assets.

The Korea Composite Stock Price Index (KOSPI) was up 0.1 per cent at 1,998.26 points as of 0203 GMT.

Offshore investors snapped their nine-session buying streak and were set to be sellers, having unloaded a net 17.5 billion won ($15.13 million) worth of KOSPI shares near mid-session.

PanOcean rose 3.4 per cent as it won a 419 billion won order from Brazilian miner Vale SA.

Samsung Engineering Co Ltd gained 3.9 per cent.

Decliners outnumbered advancers 403 to 383.

June futures on three-year treasury bonds shed 0.03 point to 110.11.

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Wednesday, March 23, 2016 – 10:47
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