Comments
The South Korean won erased early gains and stood flat against the dollar on Friday, tracking the weakening Japanese yen after the Bank of Japan’s decision to hold policy steady.
The won was pulled down also by Finance Minister Choi Kyung-hwan saying that the economy faces growing internal and external uncertainties, citing the negative impact on consumer spending and service industries from Middle East Respiratory Syndrome (MERS).
The won ended local trade at 1,107.1, unchanged from the previous close. The won touched as high as 1,099.9, the highest level since May 26. On a weekly basis, it was up 0.7 per cent, snapping a four-week losing streak.
The Korea Composite Stock Price Index (KOSPI) ended up 0.3 per cent at 2,046.96 points, rising for a third day. For the week, it lost 0.3 per cent, sliding for a fourth straight week.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.