You are here

Seoul: Shares up 2.4% for the year; won in biggest annual fall since 2008

Wednesday, December 30, 2015 - 14:22
kospi.jpg

[SEOUL] South Korean shares edged down on Wednesday, the final trading day of the year, as local stock selling by foreign investors and institutions weighed on the index.

The Korea Composite Stock Price Index (Kospi) closed down 0.3 per cent at 1,961.31 points.

For the year, Seoul shares gained 2.4 perc ent.

Foreigners were net sellers for 20 consecutive sessions, during which they offloaded a combined net 3.7 trillion won (S$4.46 billion) worth of Kospi shares on the main board.

The South Korean won slipped, as recently battered crude oil prices and weakness in the Chinese yuan cooled investor sentiment.

The local currency was quoted down 0.3 per cent at 1,172.5 per dollar at the conclusion of onshore trade, compared with Tuesday's close of 1,169.6.

For the year, the won declined 6.7 per cent against the dollar, its biggest annual fall since 2008.

South Korea's financial markets will be closed on Thursday and Friday for the New Year celebrations. Market trading will resume on Monday, Jan 4 at 0100 GMT, one hour later than usual.

REUTERS