FSMNews

 The South Korea Won falls against the US Dollar as the South Korean stocks hit new highs after a huge lead on the net purchases data for local stocks by foreign and institutional investors.

The Korea Composite Stock Price Index (KOSPI) saw a 23.43 points increase to 0.91 percent in its recent trades. With also a trade volume of at least 433 million shares worth 7.8 trillion won, the South Korean benchmark has closed at 2,598.19. It had a high of 2,604.06 but ultimately settled in the said close.

The local stock market was reported to have opened higher, keeping up with the gains garnered last week.

Analyst Lee Kyong-min believes that the current boost in South Korean stocks will remain bullish in the coming trading periods as such is driven by big players in the technology and financial industries.

In further details, Samsung Electronics had a 0.87 percent increase which ended at 2,561,000 won. Also, Global chipmaker SK hynix, saw a 0.26 percent decline to 75,300 won respectively. Naver as one of the country's top Internet portal soared by 0.54 percent to 932,000 won.

As for the auto industry of the company, the sector had a decent performance in the said session. Hyundai Motor was seen up by at least 1.31 percent to 154,500 won with its close affiliate Kia Motors having 1.19 percent gains to 33,900 won correspondingly.

KRW/USD Performance

FSMNews

The trades of the South Korean Won against the US Dollar have indeed fallen in its recent trades. It opened trades at 0.000935 and closed at its current low of 0.000930. It had a high of 0.000937 during the session. This is generally a -0.53% decline from the recent trades.

The decline pushed the Coppock curve towards the negative region. While it’s already bearish, the recent performance hit the said region and is specifically at -0.30. This would recommend a sell for the pair.

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