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Seoul: Won falls on intervention talk; shares hit by weak US growth
[SEOUL] The South Korean won fell against the dollar on Thursday as traders said local authorities probably intervened to curb the currency's recent strength.
The won ended domestic trade down 0.4 per cent at 1,072.4 per dollar, snapping a four-day winning streak. For the month, the won gained 3.5 per cent, setting its sharpest monthly percentage gain since October 2011.
On the stock market, the Korea Composite Stock Price Index (KOSPI) ended down 0.7 per cent at 2,127.17 points, marking its fifth consecutive day of losses as weak US growth data hurt sentiment. During the month, the KOSPI rose 4.2 per cent, the fastest gain since September 2012.
Meanwhile, South Korean financial markets will be closed on Friday for the Labour Day.