South Korea Pledges Action as Won Weakens to 2009 Low
South Korea's Kospi index fell as the won sharply depreciated, nearing its 2009 low against the dollar. The government has pledged to take action to curb excessive volatility in the currency market.
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KRW/USD: South Korea Vows Action in Case of Excessive Move as Won Weakens - Bloomberg.com
KRW/USD: South Korea Vows Action in Case of Excessive Move as Won Weakens Bloomberg.com
Read full article →Kospi snaps 3-day rise on profit-taking; won sharply down
South Korean stocks fell Thursday, snapping a three-session winning streak and retreating from record highs as investors locked in profits. The local currency fell sharply against the US dollar. The benchmark Korea Composite Stock Price Index dropped 162.08 points, or 1.84 percent, to close at 8,639.41. Trade volume was moderate at 431.77 million shares worth 46.2 trillion won ($30.2 billion), with winners slightly outnumbering losers 446 to 444. Institutions and individuals bought a net 1.81 tr
By The Korea Herald
Read full article →South Korea pledges action to curb volatility as won nears 2009 low
South Korea joins authorities in Indonesia and the Philippines in stepping up measures to defend currencies as elevated oil prices hurt the region's importers.
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