S. Korean won nudges lower against U.S. dollar on foreign outflows
SEOUL, Nov. 5 (Yonhap) -- The South Korean won nudged lower against the U.S. dol...
Seoul, November 5 - The South Korean won fell slightly against the U.S. dollar on Thursday, as offshore investors continued to sell local stocks following a Democratic Party victory in the U.S. midterm elections. The won was trading at 1,342.1 per dollar at 3:30 PM local time, down 0.6 won from the previous session's close. With Democrats securing a majority in both chambers of the U.S. Congress, traders anticipated the change would diminish the influence of outgoing U.S. President Donald Trump during his final two years in office.
For the local semiconductor industry, a key factor to monitor is whether a Democrat-led Congress would slow down the construction of data centers for artificial intelligence. During the latest regular trading session, foreign investors offloaded a net 3.39 trillion won, or US$2.53 billion, in local shares, with the benchmark Korea Composite Stock Price Index slipping 5.28 percent to close at 5,383.80.
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