Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
S.Korea won extends gains on stocks, c/a forecast
Reuters - Friday, November 28
SEOUL, Nov 28 - The South Korean won extended gains to hit its strongest in over a week on Friday as foreign investors continued to buy local shares and after the finance minister provided an upbeat forecast for the country's current account.
The won <KRW=> also found further support as local exporters chased the unit for settlements, causing investors to clear dollar-long positions, and as market players remained cautious over possible dollar-selling intervention by the authorities.
But the local currency cut some of early gains on fears about liquidity problems in the corporate sector and the impact of a global recession.
The South Korean unit was quoted at 1,457.9/1.1 per dollar as of 0325 GMT, compared with Thursday's domestic close <KRW=KFTC> of 1,476.0. It advanced to as high as 1,449.9, the strongest since Nov. 20.
"As the won secured a strong support line at around 1,500 and as foreigners return to the stock market here, investors expect the unit to rise further in the short term," said a foreign bank dealer.
Seoul shares gained 0.82 percent as foreign investors bought a net 75.3 billion won worth of stocks in the country's main exchange, after purchasing a combined 313.1 billion won during the previous two sessions.
Earlier, Finance Minister Kang Man-soo said Asia's fourth-largest economy was expected to swing into a surplus next year from a projected 2008 deficit. [ID:nSEO302088]
Still, investors stayed concerned over the impact of a global downturn on the export-driven economy and liquidity problems in the country's corporate sector.
On Thursday, two core units of construction and engineering conglomerate C&Group said they would ask their creditors to lead debt restructuring programmes, becoming the latest casualties of the country's liquidity crunch.
0325 GMT 0040 GMT prev close Won <KRW=> 1,457.9/1.1 1,463.3/4.4 1,476.0 Yen/won <JPYKRW=R> 15.2996/80 15.3380/33 15.5097/61 KOSPI <.KS11> 1,072.17 1,079.76 1,063.48 (Reporting by Cheon Jong-woo and Lee Kyoung-ho; Editing by Jonathan Hopfner)
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
SKorea industrial production slows in OctoberAFP - 29 minutes ago
Indian bond yields at 3-yr low on rate cut hopesReuters - 44 minutes ago
Bulgari expects tough Christmas, 2009 for sales-CEOReuters - 44 minutes ago
MF Global to trade distillate swaps in Asia-sourcesReuters - 47 minutes ago
Nikkei gains as China hopes, Kyocera offset PanasonicReuters - 47 minutes ago
Most Popular – Business
Viewed
US clears Bank of America deal for Merrill Lynch
US president's mother 'doing very well' in hospital: Laura Bush
Love handles increase death risk: study
Obama vows 'help is on the way' for the economy
Michael Jackson strikes 'amicable' deal with Arab sheikh
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular