Seoul: Won, stocks weaken as the market wrestles with political woes
[SEOUL] The South Korean won and shares slipped slightly on Friday as investors remained wary over the political crisis gripping President Park Geun-hye as she vowed to cooperate with prosecutors investigating an influence peddling scandal.
The won was quoted at 1,143.4 to the dollar at the conclusion of onshore trade, down 0.3 per cent compared to Thursday's close of 1,139.6.
The Korea Composite Stock Price Index (KOSPI) closed down 0.1 per cent at 1,982.02 points.
Offshore investors sold a net 191.7 billion won (US$167.65 million) worth of KOSPI shares for the day.
South Korean stocks lost 2 per cent on a weekly basis, biggest loss since mid June of this year.
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
Singapore stocks end week in red; STI down 0.1%
Asia: Markets track Wall Street higher as rate hopes rise, eyes on US jobs
H2G Green chief to stand trial on Aug 5 amid MOM probe
Singapore shares climb at Friday’s open; STI up 0.2%
Stocks to watch: DBS, KIT, Clint, Elite Commercial Reit
Europe: Shares ease after Federal Reserve decision, mixed earnings