Seoul: Shares fall on foreign selling, won down ahead of US jobs report

[SEOUL] South Korean shares slipped on Friday on foreign selling, while the South Korean won edged lower, but moves were cautious ahead of a key US jobs report later in the day that could give clues on the timing of the Federal Reserve's first rate hike in a almost a decade.

The South Korea Composite Stock Price Index (KOSPI) ended down 0.5 per cent at 1,969.68 points. On a weekly analysis, however, it rose 1.4 per cent.

Foreigners broke a two-day buying spree and sold a net 124.5 billion won (S$151 million) of KOSPI shares on the day, preliminary data showed.

In the currency market, the South Korean won closed local trade down 0.4 per cent to 1,180.7 per dollar, joining most regional peers by weakening against the dollar. For the week, the won gained 1.2 per cent.

REUTERS