You are here
Seoul: Won ends at 5 week low, shares slump as North Korea worries spread
[SEOUL] The South Korean won ended at a five-week low and shares at a one-week low on Friday as due to investors nervousness over the rising tensions between North Korea and the United States.
The won was quoted at 1,136.5 to the US dollar at the conclusion of onshore trade, down 0.3 per cent versus Thursday's close of 1,132.7. It was the weakest closing level since Aug 21.
The currency was down 0.4 per cent on a weekly basis and marked a third straight week of declines.
The Korea Composite Stock Price Index (Kospi) closed down 0.7 per cent at 2,388.71 points.
For the week, the Kospi barely rose as its gains earlier this week were almost erased due to worries about monetary tightening from Federal Reserve and geopolitical risks.