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Business
 

South Korean stocks slip to 2-week closing low, won ends firmer

Published on May 27, 2014 2:36 PM
 

SEOUL (REUTERS) - South Korean shares slipped to their lowest close in two weeks on Tuesday as a sell-off by domestic institutions outweighed foreign capital inflows, while the won eked out gains on demand from exporters.

The Korea Composite Stock Price Index (KOSPI) ended down 0.6 per cent at 1,997.63 points, the weakest close since May 13.

Institutional investors positioned as net sellers for a ninth straight session by offloading 109 billion won (S$132 million) worth of KOSPI shares, while foreigners purchased a modest 22 billion won, extending their net buying streak to an 11th session.

The local currency was quoted at 1,023.2 per dollar at the end of onshore trade, up 0.1 per cent from Monday's close at 1,024.0.

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