S. Korean currency surges vs dollar on Wall Street gains

SEOUL, Oct. 17 (Yonhap) -- South Korea's currency soared against the U.S. dollar
on Friday as sentiment was eased following overnight gains in U.S. markets,
dealers said.
The local currency was trading at 1,320.75 won as of 9:21 a.m., up 52.25 won from
the previous session's close. The Korean currency rebounded for the first time in
three sessions with its value falling more than 29 percent so far this year.
The won plunged almost 10 percent per the dollar on Thursday due to growing
global economic recession fears. The local currency posted its biggest daily drop
since Dec. 31, 1997.
U.S. stock markets gained on Thursday after volatile trading. The Dow Jones
industrial average rose 4.68 percent and the tech-dominated Nasdaq composite
index climbed 5.49 percent.
The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.13 percent to
1,215.34 as of 9:21 a.m.