South Korean Won Jumps Most in Four Months on Intervention Signs

South Korea’s won gained the most in almost four months, reversing losses in the final two minutes of trading, after authorities said they were prepared to intervene to curb declines. The nation’s currency, bonds and stocks all declined in the week.

The finance ministry said it will “take action” to stabilize the currency market, after holding an emergency meeting with the central bank before markets opened. “The herd behavior on one-way bets has been excessive in the recent currency market,” the ministry said. Authorities seemed to have intervened “much more strongly” than in previous days, said Kim Seong Soo, a Seoul-based trader with Kyongnam Bank.