Seoul: Won snaps weekly gaining streak; stocks rally

[SEOUL] The South Korean won fell more than 1 per cent on Friday to end the week down, snapping three consecutive weeks of gains.

The won was quoted at 1,117.6 to the dollar at the conclusion of onshore trade, down 0.9 per cent compared with Thursday's close of 1,107.2. It fell to as low as 1,120.7 during the day.

The currency lost 1.3 per cent for the week.

South Korean shares were nearly unchanged with the Korea Composite Stock Price Index (Kospi) closing at 2,056.24.

The shares rose 0.3 per cent on a weekly basis, enjoying a fourth straight weekly rally.

Offshore investors turned buyers, purchasing a net 221.2 billion won (S$268 million) worth of Kospi shares.

Tech giant Samsung Electronic Co Ltd rose 2.1 per cent, setting another record closing high.

REUTERS