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SEOUL Feb 28 The South Korean won
finished at a near 19-week high on Tuesday, as exporters sold
dollars at the month-end while the greenback's gains were capped
in global markets.
The won was quoted at 1,130.7 to the dollar at
the conclusion of onshore trade, its highest since Oct. 20,
2016. It was up 0.3 percent compared with Monday's close of
South Korea's central bank chief Lee Ju-Yeol's comment that
some increase in fiscal spending was needed to spur economic
growth also provided support for the currency.
South Korean shares ended slightly higher with the Korea
Composite Stock Price Index (KOSPI) closing up 0.3
percent at 2,091.64 points.
For the month, the local currency rose 2.8 percent while the
KOSPI gained 1.2 percent marking three straight months of gains.
South Korea's special prosecutor's office said it would
charge Samsung Group chief Jay Y. Lee and four other executives
with bribery and embezzlement amid a political scandal that has
rocked the country, but had little impact on the stock market.
Samsung Electronics Co Ltd ended its trade up 1
Foreign investors turned to net buyers, purchasing 60.5
billion won ($53.56 million) worth of KOSPI shares for the day.
South Korean markets will be closed on Wednesday for a
(Reporting by Dahee Kim; Editing by Jacqueline Wong)