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Seoul: Shares fall on nagging growth woes; won retreats on global dollar rally

Tuesday, November 4, 2014 - 14:40
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[SEOUL] South Korean shares fell on Tuesday as risk appetite soured on further signs of slowing growth in China and the euro zone, with cyclical sectors such as steelmakers and petrochemicals taking the brunt of the impact.

The Korea Composite Stock Price Index (KOSPI) fell 0.91 per cent to close at 1,935.19 points.

The South Korean won fell, pressured by a surge in the dollar inspired by the Bank of Japan's surprise move on Friday to expand its stimulus programme of bond purchases.

The local currency was quoted at 1,076.5 to the dollar at the conclusion of onshore trade, compared to Monday's closing rate of 1,072.6.

REUTERS