You are here

Seoul: Shares, won slip ahead of US non-farm payrolls data

Seoul shares reversed early losses to close at a three-week high on Thursday as recently undervalued shares extended gains, while foreigners continuously offloaded local stocks.

[SEOUL] South Korean shares shed on Friday as investors held back ahead of key US jobs data due later in the day, which could provide a strong clue to the timing of a Federal Reserve rate hike.

The Korea Composite Stock Price Index (Kospi) closed down 0.2 per cent at 2,010.23 after falling as much as 0.6 per cent to 2,001.23, the lowest since July 9. The index slid 1 per cent this week, losing for a third straight week.

The won erased modest gains in early trading and ended local trade lower 0.1 per cent at 1,167.4 per dollar as investors were cautious ahead of US non-farm payrolls data.

On a weekly basis, the local currency was up 0.2 per cent, snapping a six-consecutive-week falling spree.