Seoul: Stocks, won hit 3-week closing lows as geopolitical tensions weigh
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SEOUL] South Korean shares and its currency won closed at three-week lows on Thursday as geopolitical risks weighed on investor sentiment after North Korea test-fired a ballistic missile into the sea off its east coast on Wednesday.
The launch came ahead of a summit between US and Chinese leaders who are set to discuss Pyongyang's increasingly defiant arms programme.
The won was quoted at 1,133.2 to the US dollar at the conclusion of onshore trade, its lowest closing level since March 15. It was down 0.8 per cent, compared with Wednesday's close of 1,124.4.
The Korea Composite Stock Price Index (Kospi) ended 0.4 per cent lower at 2,152.75, the lowest since March 16.
Foreign investors offloaded a net 93.1 billion won (S$115.17 million) worth of Kospi shares, net selling equities for a fourth straight session.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
