South Korea’s won surges to a 19-month high as a result of funds poured in by global investors into the nation’s shares to profit from speeding economic growth and increasing exports.
The Gross Domestic Product increased at a faster pace in the first quarter and exports increased for a consecutive sixth month in April. The Kospi index gained 1 percent, due to net buying by global investors of Korean shares.
The won rose 0.4 percent to 1,103.80 per dollar. It’s appreciated 5.4 percent this year and earlier touched 1,103.05, the strongest level since Sept. 2008.
Exports jumped by 32 percent in April, & the economy grew at almost 7.5 %.
Most of the South Korean exports are to China.
The Gross Domestic Product increased at a faster pace in the first quarter and exports increased for a consecutive sixth month in April. The Kospi index gained 1 percent, due to net buying by global investors of Korean shares.
The won rose 0.4 percent to 1,103.80 per dollar. It’s appreciated 5.4 percent this year and earlier touched 1,103.05, the strongest level since Sept. 2008.
Exports jumped by 32 percent in April, & the economy grew at almost 7.5 %.
Most of the South Korean exports are to China.
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