You are here

South Korea: Shares pare earlier gains to close lower; won flat

South Korean shares reversed sharp early declines to close higher on Thursday while the country's currency pared losses against the dollar as the investor appetite for risk assets regained momentum.

[SEOUL] South Korean shares pared earlier gains and lost ground on Thursday as broad risk-off sentiment and bearish crude oil offset investor buying of battered stocks.

The Korea Composite Stock Price Index (KOSPI) closed 0.3 per cent lower at 1,840.53 points, after rising as much as 0.8 percent to 1,860.02.

Offshore investors sold a net 296.9 billion won (US$244.72 million) worth of shares in the main board, preliminary data showed.

The South Korean won came off Wednesday's fresh 5-1/2 year low, ending local trade at 1,213.7 to the dollar, virtually unchanged from the previous close.