South Korea’s won traded 0.1 percent off an eight-month high after overseas investors pumped more money into domestic stocks. Government bonds fell.
Global funds have bought more South Korean shares than they have sold every day since Aug. 22, according to stock exchange data. Any gains in the currency may be limited on speculation that the authorities may intervene to slow the pace to help the nation’s exporters, according to Jeon Seung Ji, a strategist at Samsung Futures Inc. in Seoul.
The won fell 0.1 percent to 1,070.43 per dollar as of 9:49 a.m. in Seoul, according to prices from local banks compiled by Bloomberg. It touched 1,069.68 on Oct. 4, the highest since Jan 25. The currency has rallied 6.7 percent since the end of June, the best performance among Asia’s 11 most-traded currencies, eroding the value of the nation’s exports that account for around half of gross domestic product.
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