Seoul:The South Korean won continued to rise against the U.S. dollar on Wednesday, driven by dollar sales from local semiconductor manufacturers.
According to Yonhap News Agency, the won was trading at 1,340.4 per dollar at 3:30 p.m., reflecting an increase of 3.2 won from the previous session's close. Earlier in the day, the won had reached its strongest level since September 10, trading at 1,337.6 per dollar.
Despite these gains, the won's upward movement was curtailed due to foreign investors remaining net sellers of South Korean stocks. During the latest trading session, foreigners sold a net 2.6 trillion won, equivalent to approximately US$1.94 billion, in local shares. This activity contributed to a 1.98 percent decline in the benchmark Korea Composite Stock Price Index, which closed at 6,803.90.