According to Yonhap, the South Korean won strengthened to a nearly five-month high against the U.S. dollar on Wednesday, reaching 1,446.7 won per dollar at 3:30 p.m., up 15.8 won from the previous session and the strongest level since Feb. 27. Some analysts attributed the move to dollar selling by SK hynix Inc., which has been converting proceeds from a major U.S. listing into won, while exporters also appeared to be selling dollars. The won opened at 1,455 won per dollar and climbed to as high as 1,442.6 won. Foreign investors sold a net 1.2 trillion won ($824 million) worth of local stocks, while the benchmark Korea Composite Stock Price Index fell 5.98% to 5,663.24.