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Seoul: Won, stocks slip on Samsung Group leader's arrest

Friday, February 17, 2017 - 16:00

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[SEOUL] The South Korean won and shares ended lower on Friday as Samsung Group chief Jay Y Lee was arrested over his alleged role in the corruption scandal linked to President Park Geun Hye.

The won was quoted at 1,146.3 to the US dollar at the conclusion of onshore trade, down 0.4 per cent compared to Thursday's close of 1,141.5.

South Korean shares were flat with the Korea Composite Stock Price Index (Kospi) closed down 0.1 per cent at 2,080.58 points.

Shares of Samsung Electronics ended down 0.4 per cent. Hotel Shilla finished up one per cent, erasing its earlier gains.

For the week, the local currency rebounded from last week's losses, gaining 0.4 per cent and the Kospi rose 0.3 per cent.

Offshore investors were net sellers for the day, selling 65.5 billion won (S$81.08 million) worth of Kospi shares.

REUTERS

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