Seoul: Won hits near 19-mth low as dollar rallies; stocks fall
[SEOUL] South Korea's won fell to its weakest in almost 19 months against the dollar on Tuesday while stock prices edged down, both hit by the US currency's rally on strengthening views for a US interest rate increase.
The won fell as much as 1 per cent to 1,123.3 per dollar, its weakest since Aug 22, 2013, before finishing local trade at 1,122.6, compared to Monday's local close of 1,112.1.
The Korea Composite Stock Price Index (KOSPI) dropped 0.4 per cent to end at 1,984.77 points, extending a 1 per cent decline on Monday.
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 shares open in the red on Tuesday; STI down 0.3%
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops
US: Stocks end higher, extending rally
Yen surges against US dollar on suspected intervention
Singapore stocks start week in the black ahead of Fed meeting; STI up 0.1%