The won-dollar exchange rate against the U.S. dollar closed at 1,439.7 won on the 27th. It rose 13.9 won from the previous day.
The rise in the won-dollar exchange rate is seen as driven by foreigners' net selling of domestic stocks. When foreigners sell domestic stocks, demand for the won declines, and the won-dollar exchange rate tends to rise.
On the Korea Exchange that day, foreigners sold 685.62 billion won worth of stocks. Because of this, the KOSPI index closed at 6,244.13, down 1% (63.14 points) from the previous day. It was the first decline in the KOSPI index in seven trading days.
Overnight, the three major U.S. New York stock indexes were mixed. On the 26th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished the session up 17.05 points (0.03%) at 49,499.20.
In contrast, the Standard & Poor's (S&P) 500 fell 37.27 points (0.54%) to 6,908.86, and the Nasdaq Composite closed down 273.69 points (1.18%) at 22,878.38.
The market is watching the U.S. Beige Book to be released on the 4th of next month. Choe Gang-hyeok of LS Securities said, "The Beige Book is the economic, price, and employment report of the regional Federal Reserve Banks," adding, "Because it is released two weeks before the Federal Open Market Committee (FOMC), it allows a preview of U.S. economic conditions ahead of the meeting."