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Seoul: Shares pare losses after dipping to 2-mth low; won firmer
[SEOUL] South Korean shares pared losses on Monday helped by bargain hunting, after falling to a 2-month low as plunging oil prices triggered broad risk aversion.
The Korea Composite Stock Price Index (KOSPI) fell 0.07 per cent to close at 1,920.36 points, regaining much of its losses after falling as much as 1.2 per cent near the opening bell.
The South Korean won firmed against the dollar in a volatile trading session, tracking movements in the yen as safe-haven bids in the Japanese currency outweighed dollar bulls riding expectations of an early rate hike by the US Federal Reserve.
The local currency was quoted at 1,099.1 to the dollar at the conclusion of onshore trade, compared with Friday's closing rate of 1,103.1.