DBS strategist Chang Wei Liang reports that South Korean Won (KRW) strength has resumed, with USD/KRW dropping to the mid-1380s even as KOSPI fell nearly 6% on semiconductor-led losses. He attributes this to foreign investors using the equity correction to add Korean stocks, funded by USD selling, while warning that tech volatility and a less undervalued KRW justify some caution.
Foreign equity buying lifts korean won
“KRW rally picked up pace again, with USD/KRW tumbling to mid-1380 levels despite a KOSPI sell-off of close to 6% yesterday, led by semiconductors.”
“Foreign investors are seemingly taking advantage of the correction to invest…
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