Korea Exchange News
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The won rose the most in three weeks on speculation the currency’s slide to a four-week low prompted some South Korean exporters to convert overseas proceeds, while the yen retreated. Government bonds were unchanged.
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Copper swung between gains and losses ahead of Chinese trade data to be released today as mine-supply concerns weighed against speculation that the U.S. Federal Reserve will scale back stimulus.
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The won recovered from a four-week low after South Korea said it will act to curb currency swings amid renewed regional tensions as North Korea fired missiles. Government bonds declined.
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Copper dropped for the first time in three days on speculation that China will continue to curb its property market, reducing demand from the world’s biggest consumer. Tin, lead and zinc also fell.
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South Korea’s won completed the worst week in more than a month on speculation authorities will weaken the currency to safeguard exports after the yen slumped to a four-year low. Government bonds declined.
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The debut of electronic trading in India’s corporate bonds seeks to expand volumes now 20 percent of those in South Korea and improve transparency amid global probes into manipulation of interbank markets.
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South Korean stocks gained the most in Asia, led by exporters, as a stronger yen eased concerns about a loss of competitiveness to Japanese rivals.
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The won rose the most in two weeks as global funds bought South Korean shares after an unexpected increase in U.S. retail sales bolstered investor appetite for emerging-market assets. Government bonds rose.
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BNP Paribas SA plans to boost its equity structured-products business in South Korea, a $42 billion market where France’s largest bank says it had been “underweight.”
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South Korea’s won fell to a two-week low on concern the yen’s slide will hurt the nation’s exports after the Group of Seven finance chiefs indicated they will tolerate a weak Japanese currency. Government bonds dropped.
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