Markets

South Korean won logs worst day in nearly 3 weeks; stocks rebound

Published June 2, 2014 Updated June 2, 2014 06:26am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won posted its biggest daily loss versus the dollar in almost three weeks on Monday, with the greenback strengthening broadly on expectations that the European Central Bank will deliver easing measures this week.

The local currency was quoted at 1,024.1 versus the dollar at the end of onshore trade, down 0.4 percent from Friday's close at 1,020.

It was the biggest one-day percentage loss since May 14.

The Korea Composite Stock Price Index (KOSPI) closed up 0.4 percent at 2,002.00 points, bouncing back from a 0.9 percent fall on Friday to finish above the psychologically important 2,000-point threshold.

Offshore investors bought a net 209 billion won ($205 million) worth of KOSPI shares, extending their net buying streak to a 15th session.

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