S Korean stocks weaker; won drops

FE Report | Published: July 25, 2017 11:28:08 | Updated: October 17, 2017 13:40:48


South Korean shares edged down on Tuesday as foreign investors continued to be net sellers of local equities. 

The South Korean won eased off four-month highs, as the dollar regained strength and investors awaited US economic growth data.

The won stood at 1,115.8 to the dollar as of 0304 GMT, down 0.2 per cent versus Monday's close of 1,114.0.

South Korean share index has risen for eight successive days and closed on Monday at a record high after parliament approved the government's supplementary budget. 

South Korea raised its 2017 growth outlook on Tuesday, projecting economic expansion of 3.0 per cent from 2.7 per cent, but the upgrade had little effect on the markets as it was already priced in.

The Korea Composite Stock Price Index (KOSPI) was down 0.1 per cent at 2,448.68 points. The index briefly touched another record high at 2,453.17 points as soon as the market opened. 

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