You are here

Seoul: Stocks edge up in thin trade, won flat as Park's ratings slump

40487954 - 09_11_2016 - SOUTHKOREA-ECONOMY_USA-ELECTION.jpg

[SEOUL] South Korean shares edged up early on Friday in thin volumes while the US dollar's broad strength continued to weigh on most emerging markets.

The Korea Composite Stock Price Index (Kospi) was up 0.1 per cent at 1,972.55 points as of 0215 GMT.

South Korean President Park Geun-hye's approval rating fell to 4 per cent amid a deepening political crisis, marking an all-time low for any democratically elected leader in the country, further discouraging investors.

"Seoul stocks' recent movement is just a result of the strong greenback that has continued since Donald Trump's win. Eager stock-buying would be unlikely for the time being," said Bae Sung-young, a stock analyst at Hyundai Securities.

sentifi.com

Market voices on:

Offshore investors were set to be small net buyers near mid-session.

The sub-index for medical supplies rose more than 2 per cent after falling over the past three days.

Web portal Naver Corp gained nearly 2 per cent.

Advancers slightly outnumbered decliners 433 to 368.

The South Korean won was quoted at 1,180.0, little changed from Thursday's close of 1,180.1.

December futures on three-year treasury bonds lost 0.11 point to 108.92.

REUTERS

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom