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RPT-S.Korean shares little changed as exports wane; won ticks higher
September 1, 2014 / 6:32 AM / 3 years ago

RPT-S.Korean shares little changed as exports wane; won ticks higher

(Repeats for screen clients)

SEOUL, Sept 1 (Reuters) - South Korean shares closed flat on Monday as tensions in Ukraine and weak domestic exports checked investor appetite for riskier assets.

The Korea Composite Stock Price Index (KOSPI) closed down 0.03 percent at 2,067.86 points

South Korea’s exports fell slightly in August, official data showed on Monday, missing market expectations and underscoring the still-fragile economic recovery as global demand remains weak.

Shares in Samsung Engineering soared 12.5 percent while Samsung Heavy Industries jumped 6.2 percent after the two Samsung Group affiliates announced a merger worth 2.5 trillion won ($2.47 billion).

The South Korean won edged up by a whisker as positive U.S economic data was partially offset by exporters selling the U.S. dollar for settlements ahead of a long holiday weekend in South Korea.

The local currency was quoted at 1,013.1 to the dollar at the end of onshore trade on Monday, compared to the previous session close of 1,014.0. (Reporting By Joonhee Yu; Editing by Shri Navaratnam)

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