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Seoul: Stocks end at near 3-1/2 week low on sell-off in tech, construction

Thursday, August 3, 2017 - 15:13

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[SEOUL] South Korean shares slumped to a near 3-1/2-week low on Thursday as construction stocks crumbled on fresh government curbs to cool the housing market, while tech firms retreated after an Apple-led rally.

The Korea Composite Stock Price Index (Kospi) closed down 1.7 per cent at 2,386.85 points, its weakest finish since July 11.

The sub-indices for techs and construction dropped 2.5 per cent and 4.7 per cent, respectively.

Offshore investors unloaded a net 402.7 billion won (S$485.77 million) worth of Kospi shares during the session.

The South Korean won fell to the weakest closing level since July 14, fetching 1,128.8 to the US dollar at the conclusion of onshore trade. It was down 0.4 per cent versus Wednesday's close of 1,124.0.

REUTERS

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