Seoul: Won gives up gains on finance minister comments, stocks weaken

[SEOUL] The South Korean won gave up its earlier gains on Thursday after finance minister Yoo Il-ho said the ministry was closely monitoring the current currency volatility, especially in the yen-won cross rate.

The won was quoted at 1,141.5 to the US dollar at the conclusion of onshore trade, up 0.1 per cent compared to Wednesday's close of 1,142.2. It was 10.0090 against the yen, up 0.8 pct at 0645 gmt.

South Korean shares were flat with the Korea Composite Stock Price Index (Kospi) closed down 0.1 per cent at 2,081.84 points.

Foreign investors bought a net 162.6 billion won (S$202 million) worth of Kospi shares, which was offset by local institutions selling 261.7 billion won worth.

REUTERS