You are here

Seoul: Won edges up from 2-week low, stocks weaker on North Korea issues

[SEOUL] The South Korean won ended slightly firmer on Tuesday, off the previous day's two-week low but shares finished weaker, as North Korean tensions kept market sentiment subdued.

One local media reported that North Korea had been observed moving what appeared to be an intercontinental ballistic missile (ICBM) towards its west coast.

The won was quoted at 1,131.1 to the US dollar at the conclusion of onshore trade, up 0.2 per cent compared with Monday's close of 1,133.0.

South Korean shares finished weaker as foreign investors continued to trim their holdings of domestic equities amid geopolitical risks.

Market voices on:

The Korea Composite Stock Price Index (Kospi) closed down 0.1 per cent at 2,326.62 points, more than a three-week low.

Offshore investors sold a net 213.4 billion won (S$256. 26million) worth of Kospi shares for the day.

Market heavyweight Hyundai Motor fell nearly two per cent at one point after one of the auto maker's factories in China was halted due to delays in payment, adding to the market's overall pressure.