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Seoul: Stocks fall as political scandal envelops Samsung; won stronger

Friday, January 13, 2017 - 14:59

41121005 - 12_01_2017 - SOUTH KOREA JUSTICE SAMSUNG.jpg

[SEOUL] South Korean shares fell on Friday as tech giant Samsung Electronics tumbled more than 3 per cent after Samsung Group leader Jay Y Lee was questioned by the special prosecutor on bribery suspicions linked to a political scandal.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 per cent at 2,076.79 points.

The index, however, gained 1.4 per cent for the week.

The South Korean won extended its gains, finishing at 1,174.7 to the dollar at the conclusion of onshore trade, up 0.8 per cent compared to Thursday's close of 1,194.7.

The won ended the week up 1.6 per cent, the biggest weekly percentage gain in 18 weeks.

REUTERS

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