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Seoul: Shares down as oil price hammers refiners, shipyards; won lower

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[SEOUL] South Korean shares edged lower on Friday, due to hefty losses in energy and shipbuilding counters as oil prices plunged to a four-year low on OPEC's decision not to cut production despite a supply glut.

The Korea Composite Stock Price Index (KOSPI) fell 0.07 per cent to close at 1,980.78 points.

The South Korean won fell, with market players becoming wary of possible intervention by financial authorities as the yen weakened to a fresh 6-year low against the local currency.

The won was quoted at 1,107.9 to the dollar at the conclusion of onshore trade, compared to Thursday's close of 1,098.4.

REUTERS