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1 Month USD/KRW Close To 1320, Onshore Markets Closed Today

KRW

1 month USD/KRW found selling interest close to 1327 post the Asia close on Friday. The pair finished around session lows at 1321.50. Note onshore spot ended Friday's session at 1324.60. For won bulls, we could see a move back towards 1305/1315, while recent highs in 1 month USD/KRW sit close to 1330. Note that onshore markets are closed today.

  • Sentiment in the tech equity space remained firm through Friday's session. The SOX gained 6.3%, the MSCI IT rose 2.54%. Nasdaq futures have also opened up +0.60% firmer in the first part of trade today, post the weekend debt ceiling agreement between US President Biden and House Leader McCarthy.
  • To recap the Kospi rose 0.16% for Friday's session (rising 0.83% for the week). Offshore investors bought $672.6mn of local shares, bringing last week's flows to $1066.5mn.
  • There have been some North Korean headlines filter out, with a satellite launched scheduled for May 31-June 11, while the country will also hold its plenary meeting of the ruling party in early June.

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