The South Korean won (KRW) edged higher against the dollar on the first day of
24-hour trading. The around-the-clock mechanism was introduced to improve
foreign investor access to South Korea’s markets and support a push for MSCI
developed-market inclusion, reflecting a shift toward greater offshore
investment. Deputy Finance Minister Moon Ji-chung said on Friday regulators will
step up monitoring of night-session trading ahead of formal implementation on
Monday. The won has been one of Asia’s weakest currencies this year, briefly
hitting its weakest level since 2009 last week, pressured by higher energy
prices from the Iran war and foreign investors selling Korean equities to
rebalance after a sharp rally.
