The won climbed to a four-month high on signs that China, South Korea’s biggest export market, is rebounding after a two-quarter slowdown. Government bonds rose.
Chinese overseas shipments increased 7.2 percent from a year earlier in August, official data showed yesterday, exceeding the median forecast for a 5.5 percent gain in a Bloomberg survey of economists. Foreign investors bought a net $1.48 billion of South Korean equities last week, the most in almost a year, trimming the yearly net outflow to $3.75 billion, exchange data show.
“China’s better-than-expected trade data helps lift market sentiment,” Son Eun Jeong, a currency analyst at Woori Futures Co. in Seoul, wrote in a research note today.
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