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Seoul equities pause rally as investors book gains and currency strengthens
KOSPI slipped after three days of gains as investors booked profits, while the won surged sharply following forceful signals from FX authorities to curb volatility.
South Korean stocks ended lower on Wednesday as the benchmark KOSPI snapped a three session advance amid profit-taking by retail investors. The index closed at 4,108.62 points, down 8.7 points or 0.21%, after recent gains led by technology and shipbuilding shares. Market sentiment shifted as participants locked in profits following the rally. Meanwhile, the Korean won posted its sharpest single day rise against the US dollar in more than three years, supported by strong verbal intervention from foreign exchange authorities aimed at stabilising currency volatility.