Seoul: Shares fall 1.1% to near 5-mth closing low; won trims gains
[SEOUL] South Korean shares fell 1.1 per cent and the won pared gains on Monday after weak China factory activity dented sentiment, with chemical and refinery firms also pressured by slumping oil prices.
The Korea Composite Stock Price Index (KOSPI) ended at 2,008.49 points, the lowest closing since March 16. Monday's percentage drop was the sharpest since July 8.
The won closed local trade up 0.4 per cent at 1,165.9 per dollar. The local currency touched as high as 1,162.0 before the weak China factory survey was released.
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
Morgan Stanley strategists see inflation as key for path of US stocks
US dollar soft on renewed Fed rate cut bets; yen on back foot
South Korea’s probe alleges 211.2 billion won of illegal short trades
Asia: Markets build on rally as US jobs data boost rate cut hopes
Zero-day options boom will only grow even as some investors fear disaster
Singapore stocks open in the black on Monday; STI up 0.3%