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7 months ago
S.Korea won falls sharply on U.S. Dec jobs data; stocks steady
January 9, 2017 / 2:57 AM / 7 months ago

S.Korea won falls sharply on U.S. Dec jobs data; stocks steady

* Won likely to drift between 1,200-1,210 - analyst
    * KOSPI steady; Samsung Elec touches another record

    SEOUL, Jan 9 (Reuters) - The South Korean won fell
more than 1 percent early on Monday in the wake of December U.S.
jobs data which heightened market anxieties that the Federal
Reserve's next rate increase may come sooner rather than later.
    Though U.S. employment increased less than expected in
December, a rebound in wages pointed to sustained labour market
momentum. 
    The won stood at 1,204.0 to the dollar as of
0225 GMT, down 0.9 percent from the previous close of 1,193.0.
It reached as low as 1,205.2.
    "The currency will move between 1,200 and 1,210 level in the
near term," said Park Sung-woo, a foreign exchange analyst at NH
Futures, adding the market this week will focus on a speech by
Fed Chair Janet Yellen on Thursday and President-elect Donald
Trump's Wednesday press conference.
    South Korean shares barely moved and the Korea Composite
Stock Price Index (KOSPI) was at 2,049.13 points.
    Offshore investors were on track to be net buyers,
purchasing 74.1 billion Korean won ($61.54 million) worth of
KOSPI shares near mid-session.
    Market heavyweight Samsung Electronics rose
nearly 3 percent to touch another record high, thanks to its
fourth-quarter earnings guidance surprise. 
    Cosmetics company Amorepacific dropped more than
3 percent as investors were concerned China, one of its largest
markets, may retaliate further regarding South Korea's decision
last year to deploy the U.S. Terminal High Altitude Area Defence
(THAAD) system. 
    Decliners outnumbered advancers 563 to 237.
    March futures on three-year treasury bonds shed 0.07
point to 109.53. 
    
                       0225 GMT    Prev close
 Dollar/won             1,204.0       1,193.0
 Yen/won             10.2604/84       10.2650
 *KTB futures            109.53        109.60
 KOSPI                 2,049.13      2,049.12
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim; Editing by Richard Borsuk)

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