Seoul: Won down for 4th day amid deepening political crisis
[SEOUL] The South Korean won and stocks slid on Monday as a political crisis engulfing President Park Geun-hye deepened with a huge protest over the weekend further sapping investor confidence.
The won was quoted at 1,171.9 to the dollar at the conclusion of onshore trade, marking a fourth straight losing session. It was down 0.6 per cent compared to Friday's close of 1,164.8.
The Korea Composite Stock Price Index (KOSPI) closed down 0.5 per cent at 1,974.40 points.
Offshore investors sold a net 334.0 billion won (S$403.6 million) worth 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
Swiss-Asia Financial Services fined S$2.5 million for breaches of anti-money laundering rules
Asia: Stocks track another rally on Wall Street as US rate optimism lingers
Singapore shares rise at Tuesday’s open tracking global rally; STI up 0.2%
ETF popularity poised to stay as investors flock to diversification, stability
Stocks to watch: FLCT, Paragon Reit, AA Reit, Lendlease Global Reit, Far East Orchard, SIA
Europe: Shares close at highest in a week; Indra surges