August 1, 2014 / 6:27 AM / 3 years ago

S.Korean won drops to 3-mth low; stocks fall

(For the midday report, please click )

SEOUL, Aug 1 (Reuters) - The South Korean won fell to its weakest in three months, extending losses for a second session on Friday on the dollar’s broad strength sparked by positive U.S. jobs data and offshore dollar demand linked to local stock sales.

The local currency closed onshore trade at 1,037.1 against the dollar, down 0.9 percent from Thursday’s onshore finish at 1,027.9.

The won weakened as far as 1,037.2 just before the markets closed, its lowest since April 28.

The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,073.10 on its second day of losses as some investors took profits after a 4-day rally earlier this week.

On a weekly basis, the stock market posted a third week of gains.

Foreign investors turned net sellers of local shares after 13 days of consecutive purchasing, selling 66.2 billion Korean won worth on Friday. (Reporting by Christine Kim; Editing by Anupama Dwivedi)

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