S. Korean won slightly gains against U.S. dollar

Seoul, August 11 (Yonhap) -- The South Korean won experienced a minor increase against the U.S. dollar on Tuesday, attributable to investors selling dollars following SK hynix Inc.'s recent listing on U.S. markets. The currency was quoted at 1,415.9 won per dollar at 3:30 p.m., marking a 2.5 won rise from the previous day's stock market closure.

This marked the highest level in nearly a year, since October 2, 2022. The won opened at 1,415.9 won per dollar and reached a peak of 1,412.2 won during afternoon trading. Analysts have linked this recent gain to substantial dollar inflows following SK hynix's ADR (American Depositary Receipt) offering on the Nasdaq. The company raised approximately 40 trillion won (US$28.2 billion) through this offering earlier in the month, with the majority expected to be reinvested in South Korea.

During the latest trading session, foreigners purchased a net 44.2 billion worth of local stocks, propelling the benchmark Korea Composite Stock Price Index up by 0.73 percent to close at 6,345.53.