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S.Korean stocks end down on strong foreign selling; won edges up
July 7, 2017 / 6:53 AM / a month ago

S.Korean stocks end down on strong foreign selling; won edges up

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SEOUL, July 7 (Reuters) - South Korean shares slumped on Friday as offshore investors sold local equities to lock in profits after recent gains, and ended the week with losses.

The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at 2,379.87 points. The index lost 0.5 percent this week.

Foreign investors sold a net 138.6 billion won ($120.03 million) worth of KOSPI shares for the day.

The South Korean won made a slight gain as the U.S. jobs data, due to come out later in the day, is expected to be weaker than expected, pressuring the dollar.

The won was quoted at 1,154.3 to the dollar at the conclusion of onshore trade, up 0.3 percent compared with Thursday's close of 1,157.4.

The currency fell 0.9 percent on a weekly basis, marking the sixth straight week of losses. (Reporting by Dahee Kim; Editing by Sherry Jacob-Phillips)

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