Markets

South Korean won recovers on yen rebound; shares weighed by oil falls

Published December 9, 2014 Updated December 9, 2014 06:23am

1 min

By Shoaib Ur Rehman

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SEOUL: The South Korean won rose on Tuesday as a strong rebound by the yen reduced worries that South Korean l authorities would sell their currency to check its strength against the Japanese currency.

The won was quoted at 1,107.8 to the dollar at the end of onshore trade, compared to Monday's close of 1,117.7.

South Korean shares fell, as a deep plunge in oil prices rocked energy counters and local shipyards specializing in the construction of drillships and offshore oil and gas platforms.

The Korea Composite Stock Price Index (KOSPI) fell 0.4 percent to close at 1,970.95 points.

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