SEOUL: The South Korean won fell to a 15-month low on Monday, pressured by a broad rally in the dollar after surprisingly strong US jobs data highlighted underlying strength in the world's largest economy.
Data on Friday was far better than expected, as US employers in November added the largest number of workers in nearly three years. The dollar set fresh multi-year highs against major world currencies following the jobs report.
The won was quoted at 1,117.4 to the dollar as of 0150 GMT, weakending from Friday's close at 1,114.1.
The won touched a session low of 1,121.7 soon after the open, its weakest level since Aug 22, 2013, but recovered some ground on profit-taking and exporter demand.
"Investors are eager to add more long dollar positions, but it is being somewhat offset by foreign buying in local stocks and exporters cashing in their dollar holdings for profit," said Hong Seok-chan, an FX strategist at Daishin Economic Research Institute.
Offshore investors bought a net 34 billion won ($30.41 million) worth of shares on the main bourse by mid-morning, poised for a seventh-straight buying session.
South Korean shares edged lower amidst a choppy trading session, although bargain-hunting in recently battered energy counters and shipbuilders provided limited support.
The Korea Composite Stock Price Index (KOSPI) was down 0.23 percent at 1,982.09 points as of 0150 GMT.
Hyundai Heavy Industries climbed 2.4 percent while LG Chem added 1.3 percent to lead gains among index-heavyweights, as investors bought them on the dip following recent losses.
Airline shares rallied as oil prices fell to their lowest level in more than five years, heralding lower jet fuel costs.
Korean Air, the nation's largest passenger and cargo carrier, rose 3.7 percent while Asiana Air soared 7.3 percent.
The benchmark KOSPI 200 index was down 0.24 percent while the junior, tech-heavy KOSDAQ rose 0.24 percent.
December futures on three-year treasury bonds shed 10 basis points to trade at 107.88.
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