Seoul: Shares close at more than 4-mth low; won flat

[SEOUL] Seoul shares gave up early gains and returned to negative territory on Friday, as oil prices resumed their fall and China stocks turned lower, suggesting that risk appetite remains weak.

The Korea Composite Stock Price Index (Kospi) closed down 1.1 per cent at 1,878.87 points, its lowest closing level since September 8, 2015.

On a weekly basis, the main index lost for a third straight week, down 2 per cent.

Foreigners were net sellers for a seventh session, offloading a net 274.2 billion won (S$325.8) worth of shares on the main board, preliminary data showed.

The South Korean won ended local trade at 1,213.4 on the dollar, unchanged from the previous close of 1,213.4. The currency fell for a third week, down 1.3 per cent.

REUTERS