Seoul: Won falls to a one-week low; shares flat

[SEOUL] The South Korean won slid to a one-week low on Wednesday, as the dollar rose as investors saw increased prospects of a US Federal Reserve interest rate hike this year.

The won closed local trade down 0.3 per cent at 1,108.4 to the dollar from the previous close at 1,104.6. The local currency touched as low as 1,110.7, its weakest since June 18.

The Korea Composite Stock Price Index (KOSPI) ended at 2,085.53 points, barely changed from the previous close at 2,081.20 points.

Foreign investors broke a six-day selling streak, by buying a net 63.3 billion won (S$76.7 million) worth of KOSPI shares on Wednesday, preliminary data showed.

REUTERS