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S.Korea won, stocks join global slump on U.S. policy doubts
August 18, 2017 / 2:32 AM / 2 months ago

S.Korea won, stocks join global slump on U.S. policy doubts

    * Trump's foundering agenda, Barcelona attacks hurt
sentiment
    * Won sags to 1-wk low
    * KOSPI tumbles at opening; erase losses on bargain-hunting

    SEOUL, Aug 18 (Reuters) - The South Korean won        fell
to a one-week low early on Friday and Seoul stocks succumbed to
a global sell-off in riskier assets on concerns that President
Donald Trump will not be able to push through policies to boost
U.S. economic growth.
    The won            was quoted at 1,141.3 to the dollar, down
0.4 percent from Thursday's close of 1,137.2.
    "U.S. stocks slid over 1 percent on growing doubts over
Trump, which largely hurt investment sentiment, dragging down
the won," said Ha Keon-hyeong, a foreign exchange analyst at
Shinhan Investment Corp, adding that market players were closely
watching for signs of capital outflows that could further
pressure the currency.
    South Korean shares also fell, but pared earlier losses as
some investors looked for bargains.
    The Korea Composite Stock Price Index (KOSPI)         was
down 0.4 percent at 2,353.05 points by late morning, after
dropping to as low as 2,340.19 at the opening.
    Offshore investors were set to be small net sellers of KOSPI
shares near mid-session, whereas individual investors purchased
a net 706 billion won ($618.65 million) worth of stocks.
    Market heavyweights were mixed. Samsung Electronics
            lost 0.9 percent while Hyundai Motor            
rose nearly 1 percent. 
    Decliners outnumbered advancers 485 to 301.
    September futures on three-year treasury bonds         gains
0.04 point to 109.15. 
    
                       0213 GMT    Prev close
 Dollar/won             1,141.3       1,137.2
 Yen/won             10.4276/70       10.4170
 *KTB futures            109.15        109.11
 KOSPI                 2,353.05      2,361.67
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)
  

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