Seoul: Won, stocks close down on BOK's policy decision

[SEOUL] The South Korean won finished down on Friday as the market braced for an interest rate cut in June from the Bank of Korea, although it held rates for May.

The won was quoted at 1,171.4 to the US dollar at the conclusion of onshore trade, down 0.8 per cent compared to Thursday's close of 1,162.6.

South Korean shares also slumped on foreign stock-selling due to the increased uncertainty of the won's future movement after the BOK's policy decision.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 per cent at 1,966.99 points.

Foreign investors sold a net 141.4 billion won (S$166.05 million) worth of KOSPI shares as of 0605 GMT.

REUTERS