Seoul: Won slightly higher, stocks edge down; Park woes deepen

[SEOUL] The South Korean won ended a bit higher on Tuesday, recouping some of the losses from the past four sessions of decline as investors hunted for bargains.

Political scandal at home still deepened, however, as reports said prosecutors summoned Lotte Group Chairman Shin Dong-bin, which if true would make him the latest head of a South Korean conglomerate to be questioned on the allegation of raising funds for foundations involving her friend, Choi Soon-sil.

The won was quoted at 1,170.6 to the dollar at the conclusion of onshore trade, up 0.1 per cent from Monday's close of 1,171.9.

South Korean shares edged down as foreign investors sold local equities for three consecutive sessions, offloading a net 206.7 billion won (S$250 million) worth for the day.

The Korea Composite Stock Price Index (KOSPI) closed down 0.3 per cent at 1,967.53 points.

REUTERS