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S.Korean won, stocks pressured by risk-averse mood ahead of events
June 7, 2017 / 6:54 AM / 5 months ago

S.Korean won, stocks pressured by risk-averse mood ahead of events

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SEOUL, June 7 (Reuters) - The South Korean won declined to end at a one-week low on Wednesday as risk-off sentiment consolidated while investors focused on a range of market-sensitive events on Thursday.

These events comprise Senate testimony by former FBI director James Comey, a European Central Bank policy meeting, and Britain’s general election.

The won was quoted at 1,124.0 to the dollar at the conclusion of onshore trade, down 0.5 percent versus Monday’s close of 1,118.3. Markets were closed on Tuesday.

South Korean shares slumped as domestic institutions increased their selling of local equities.

The Korea Composite Stock Price Index (KOSPI) closed down 0.4 percent at 2,380.14 points.

Foreign investors purchased a net 114.5 billion won ($101.87 million) worth of KOSPI shares, while local institutions offloaded a net 296.6 billion won worth. (Reporting by Dahee Kim; Editing by Eric Meijer)

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