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Seoul: Won finishes near 3-week low, stocks down

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The South Korean won dropped to its lowest level in near three weeks on Wednesday, pressured by weak Chinese factory activity reports and a slump in global equities.

[SEOUL] The South Korean won dropped to its lowest level in near three weeks on Wednesday, pressured by weak Chinese factory activity reports and a slump in global equities.

The won was quoted at 1,154.3 to the dollar at the conclusion of onshore trade, down 1.2 per cent compared to Tuesday's close of 1,140.2.

South Korean shares also ended down, though foreign investors' buying tempered losses.

The Korea Composite Stock Price Index (Kospi) closed down 0.5 per cent at 1,976.71 points.

Foreigners net purchased 171.8 billion won (S$201.48 million)worth of Kospi shares for the day.

South Korean markets will be closed on Thursday through Friday and reopen next Monday.

REUTERS