Seoul: Won, stocks slip as Fed comments support rate hike
[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
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN
Europe: Stocks rebound after last week’s selloff, eyes on earnings and data
US: Stocks rebound to open big earnings week