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S.Korean stocks slip on accelerated offshore selling, won steady
May 12, 2017 / 6:42 AM / 7 months ago

S.Korean stocks slip on accelerated offshore selling, won steady

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SEOUL, May 12 (Reuters) - South Korean shares ended lower on Friday as foreign investors accelerated their stock-selling for profit-taking, but ended the week with the biggest weekly percentage gain in nine weeks.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 percent at 2,286.02 points.

The index rose 2 percent on a weekly basis.

Offshore investors snapped a five-day buying streak and sold a net 306.5 billion won ($271.84 million) worth of KOSPI shares for the day.

The won was quoted at 1,127.4 to the dollar at the conclusion of onshore trade, little moved compared to Thursday’s close of 1,127.9.

The local currency gained 0.5 percent for the week. (Reporting by Dahee Kim; Editing by Jacqueline Wong)

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