You are here

Seoul: Won slumps as US jobs data supports dollar; stocks flat

Monday, January 9, 2017 - 14:58

4_40382052 - 31_10_2016 - SKOREA-CENBANK_RATES.jpg

[SEOUL] The South Korean won posted more losses on Monday as positive US jobs data for December helped the US dollar stand tall against major currencies, such as the euro and Japanese yen, putting further pressure on the won currency.

The won was quoted at 1,208.3 to the US dollar at the conclusion of onshore trade, down 1.3 per cent from Friday's close of 1,193.0.

South Korean shares were nearly unchanged, with the Korea Composite Stock Price Index (Kospi) standing at 2,048.78 points at the closing bell.

Offshore investors have been net buyers for nine straight sessions, and bought 255.1 billion won (S$305 million) worth of Kospi shares for the day.

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