Seoul: Shares down on global growth concerns; won rises
[Seoul] South Korean shares tumbled on Friday, hovering just above a near 7-month intraday low hit late in the session, as weak German economic data stoked worries over slowing global growth.
The Korea Composite Stock Price Index (KOSPI) fell 1.24 per cent to close at 1,940.24 points. It was down 1.8 per cent for the week.
The South Korean won was firmer on Friday, with investors trimming bullish bets on the dollar after a dovish tone was detected in the latest U.S Federal Reserve minutes.
The local currency was quoted at 1,070.5 to the dollar at the conclusion of onshore trade, compared with Wednesday's close of 1,074.1.
South Korean financial markets were closed for a holiday on Thursday.
- REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Israel hits back, markets react; STI down 0.4%
Oil jumps, equities fall as Iran blasts fan Middle East tensions
Tokyo: Nikkei index tumbles 3% in morning trade
Singapore shares open higher on Friday; STI up 0.2%