Korean Won Drops, Bonds Rise as China Reports Smaller Surplus
This article is for subscribers only.
The won fell for a second day and government bonds rebounded after China reported a less-than-forecast surplus for December, spurring concern growth is slowing in South Korea’s biggest export market.
The currency dropped from near an eight-week high earlier, after China reported a $13.1 billion trade surplus, compared with the $20.8 billion median estimate of 20 economists surveyed by Bloomberg News. Exports rose 17.9 percent, less than economists’ 23.3 percent median estimate.