SEOUL: The South Korean won finished domestic trade nearly flat on Wednesday after economic data from China helped trim some losses as it lessened concerns over the health of the global economy.
The local currency was quoted at 1,103.6 against the dollar at the end of onshore trade, just slightly below Tuesday's close at 1,103.1.
The won had slipped by a small margin as markets opened after weak corporate earnings inside and outside the country dented risk sentiment and dragged down the local stock market.
Results of a private survey of Chinese manufacturers later helped the won shed some losses as the China HSBC Flash Manufacturing Purchasing Managers Index (PMI) rose to a three-month high in October, hinting of a steady recovery in the world's second-largest economy.
"There were some dollar-long positions early in the day's trade as the won started to fall, but those positions were cut once the won became more attractive on the positive Chinese data," said a foreign bank dealer in Seoul.
The dealer also said dollar sales by local exporters helped the won's gains.
Better-than-expected earnings from SK Hynix and LG Electronics Inc stanched the slide in the stock market and the benchmark Korea Composite Stock Price Index ended down 0.7 percent.
Local bond prices were largely subdued after losses in the stock market were halted, with December futures on three-year treasury bonds adding 0.03 point to 106.13.
Yields on the benchmark five-year treasury bonds and three-year treasury bonds both shed 1 basis point each.
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