Seoul: Won, stocks recover as Fed Sept hike talk ebbs


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The South Korean won and shares rebounded early on Tuesday after US Federal Reserve Governor Lael Brainard’s comments made it more likely that the Fed will stand pat in September.

The won stood at 1,109.5 as of 0203 GMT, up 0.4 per cent compared with Monday’s close of 1,113.5.

The Korea Composite Stock Price Index (Kospi) was up 0.6 per cent at 2,003.54 points.

“If the Fed ends up keeping its rates unchanged for September, the won will be kept at its current level which is at around 1,100,” said June Park, a foreign exchange analyst at Daishin Economic Research Institute.

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