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Seoul: Stocks, won fall to 3-week lows on Samsung Electronics worries

Tuesday, October 11, 2016 - 14:57

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[SEOUL] South Korean stocks and won fell on Tuesday as shares of tech giant Samsung Electronics Co Ltd tumbled following its decision to halt Galaxy Note 7 sales globally.

The Korea Composite Stock Price Index (Kospi) closed down 1.2 per cent at 2,031.92 points, its lowest level since Sept 21. Samsung Electronics shares dropped 8 per cent.

The won was quoted at 1,120.4 to the US dollar at the conclusion of onshore trade, down 1.1 per cent compared to Monday's close of 1,108.4 and also its lowest level since Sept 21.

Foreign investors sold a net 335.7 billion won (S$415.15 million) of Kospi shares on Tuesday.

REUTERS

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