S.Korean stocks hit record high at closing bell, won at over 5-wk high

* For the midday report, please click

SEOUL, July 19 (Reuters) – South Korean shares firmed to an
all-time closing high on Wednesday led by local institutions’
brisk buying of local equities.

The Korea Composite Stock Price Index (KOSPI) ended
trade up 0.2 percent at a record 2,429.94 points.

Domestic institutions purchased 122 billion won ($108.81
million) worth of KOSPI shares while foreign investors sold
109.4 billion won worth.

The South Korean won ended trade at its highest in
more than five weeks as current weakness in the dollar
persisted.

Local traders suspected foreign exchange authorities took
action to smooth the won’s rise as the currency neared the 1,120
level.

The won strengthened as far 1,119.9 during the
session and was quoted at 1,120.6 to the dollar at the
conclusion of onshore trade, its highest close since June 15. It
was up 0.2 percent versus Tuesday’s close of 1,123.1.
(Reporting by Dahee Kim; Editing by Eric Meijer)

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