Seoul: Won, shares recover early losses on US dollar selling

[SEOUL] The South Korean won recovered after a sharp decline on Friday on the back of stop-loss US dollar selling from investors.

The local currency was quoted at 1,153.8 to the US dollar at the conclusion of onshore trade, down 0.2 per cent compared with Thursday's close of 1,151.4.

South Korean shares were little changed as foreign investors, who were sellers earlier, turned to buyers later in the day.

The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,972.05 points.

Foreigners have been buyers for three sessions and purchased a net 163.3 billion won (S$191.2 million) worth of stocks as of 0620 GMT.

Stocks were slightly down for the week, heading for three straight losing weeks.

REUTERS