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Seoul: Won, stocks slip as Fed comments support rate hike

Monday, August 29, 2016 - 15:04

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[SEOUL] The South Korean won finished at a one-week low on Monday as the greenback strengthened on comments by top Federal Reserve officials that raised the possibility of a US rate hike as early as next month.

The won was quoted at 1,125.0 to the US dollar at the conclusion of onshore trade, down one per cent from Friday's close of 1,113.7.

South Korean shares nudged down with the Korea Composite Stock Price Index (Kospi) closing 0.3 per cent lower at 2,032.35 points.

Foreign investors snapped three-day selling streak and bought a net 84.5 billion won (S$102.66 million) of Kospi shares.

REUTERS

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