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Seoul: Stocks post worst weekly loss in 4 months, won also slips

16_06_2016 - SOUTH KOREA ECONOMY MARKETS.jpg

[SEOUL] South Korean shares ended little changed on Friday but posted their biggest weekly loss since mid-February as investors dumped riskier assets ahead of a British referendum next week on whether to remain with the European Union.

The Korea Composite Stock Price Index (Kospi) closed up 0.1 per cent at 1,953.38 points.

Offshore investors sold a net 100.1 billion won (S$115.34 million) worth of Kospi shares.

For the week, the Kospi dropped 3.2 per cent, breaking three consecutive weeks of gains weeks.

The South Korean won calmed down after fluctuating earlier in the session following a fake report on the death of North Korean leader Kim Jong Un.

The won was quoted at 1,172.7 to the US dollar at the conclusion of onshore trade, down 0.1 per cent compared with Thursday's close of 1,171.4.

The won lost 0.6 per cent for the week.

REUTERS

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