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Seoul: Won ends at 4-month low as Trump aftershocks shake emerging markets

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[SEOUL] The South Korean won fell to a four-month low on Friday as emerging markets slumped on worries about future US fiscal and monetary policy under President-elect Donald Trump.

The won was quoted at 1,164.8 to the US dollar at the conclusion of onshore trade, down 1.2 per cent compared to Thursday's close of 1,150.6, marking the weakest point since July 6, 2016.

The currency slid 1.9 per cent for the week, its biggest weekly loss in 10 months.

South Korean assets have also been pressured by a deepening political crisis engulfing President Park Geun-hye.

Ms Park's presidency has been rocked by allegations that a personal friend of hers used her ties to meddle in state affairs and wield improper influence.

The Korea Composite Stock Price Index (Kospi) closed down 0.9 per cent at 1,984.43 points.

Offshore investors sold a net 449.7 billion won (S$544.3 million) worth of the Kospi shares.

REUTERS

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