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Seoul: Stocks pare losses but end at 6-week low on global rout, won skids

[SEOUL] South Korean shares fell for the third straight session on Tuesday to end at a six-week low as a sharp sell-off in US stock markets soured investor confidence worldwide.

The Korea Composite Stock Price Index (Kospi) closed down 1.5 per cent at 2,453.31 points, its lowest close since Dec 27. The index fell 1.3 per cent on Monday.

It fell more than 3 per cent at one point to as low as 2,409.38, marking its biggest intraday percentage loss since the Brexit vote in 2016.

Market heavyweight shares were mostly down, with Samsung Electronics and Hyundai Motors down about 1 per cent while web portal Naver Corp fell 3.1 per cent.

The South Korean won weakened for a fourth straight session and closed at its lowest in eight weeks.

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The won was quoted at 1,091.5 to the US dollar at the conclusion of onshore trade, down 0.3 per cent compared to Monday's close of 1,088.5.

March futures on three-year treasury bonds rose 0.15 point to 107.63. South Korean treasry bond yields were down with that of five-year stood at 2.501 per cent as of 0656 GMT.

REUTERS

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