Morning news-16 April

South Korea won down for 3rd day, stocks find support from China GDP


SEOUL: The South Korean won slipped to a one-week low on Wednesday on dollar demand linked to dividend payouts, while stocks edged up following three days of losses after data showed China's economy grew slightly more than expected in the first quarter.

The local currency was quoted at 1,042.1 against the dollar as of 0233 GMT, down 0.1 per cent from Tuesday's onshore close at 1,040.9 in its third straight day of declines. The won reached 1,044.7 shortly after markets opened, its weakest since April 9.

The Korea Composite Stock Price Index (KOSPI) was up 0.1 per cent at 1,993.38 points. 

Buy Gujarat Fluorochemicals Ltd with target price of Rs 345: Ashwani Gujral

Gujarat Fluorochemicals Ltd is a 'BUY' call with a target of Rs 345 and a stop loss of Rs 310.