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The won rallied Monday, closing at W1,440 to the dollar, the strongest showing since W1,427.50 a month ago. The won was strong throughout on news that Korea could a record trade surplus in March.
The fact that Philips sold off its share of LG Display last weekend also contributed to the surge. Foreign investors who bought LG Display bought won to pay for the shares, boosting Korea¡¯s dollar reserves and thus the won.
But the stock market closed down slightly, probably due to pressure from a short-term hike last week. The benchmark KOSPI closed at 1,125.73 points, down 0.3 point or 0.02 percent from Friday. The tech-heavy Kosdaq shed 0.5 point or 0.12 percent to 388.77 points.
(englishnews@chosun.com )
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