You are here

Seoul: Won hits 3-mth low as US jobs data keeps Fed in play, stocks drop

Monday, March 9, 2015 - 14:22

keb345.jpg
- PHOTO: AFP

[SEOUL] South Korea's won and shares slumped on Monday, tracking their Asian peers after a strong US jobs report on Friday heightened expectations of the Federal Reserve raising interest rates sooner than thought.

The South Korean won ended onshore trade at 1,112.1, down 1.2 per cent from Friday's close at 1,098.7 and capped the worst daily percentage fall since late October last year.

During Monday's session it touched 1,112.6, the lowest level against the dollar since Dec 9.

The Korea Composite Stock Price Index (KOSPI) closed down 1 per cent at a 1-1/2 week closing low of 1,992.82 points - it was also the sharpest daily fall in nearly two months on Monday.

Selling by foreigners and institutions dented the benchmark, dumping 64.6 billion won (US$58.10 million) and 176.2 billion won worth of local shares, respectively.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom