You are here

Seoul: Won slips to 6-week low, stocks down on Fed, North Korea risks

[SEOUL] The South Korean won closed at a six-week low and stocks slipped on Wednesday as the US Federal Reserve's signal it is on course to raise rates in December and elevated North Korean risks sapped sentiment.

The won was quoted at 1,140.7 to the US dollar at the conclusion of onshore trade, its weakest closing level since Aug 18. It was down 0.3 per cent on Tuesday's close of 1,136.0.

The Korea Composite Stock Price Index (Kospi) ended down 0.1 per cent at 2,372.57 points.

Foreign investors were net sellers, unloading 282.4 billion won (S$336.3 million) worth of stocks. They also trimmed a net one trillion won worth of local treasury bonds, the head of a local banks' bond trading team said.

REUTERS

sentifi.com

Market voices on: