- Title: MARKETS-SOUTH KOREA/CLOSE Seoul shares suffer biggest fall since June 2012
- Date: 24th August 2015
- Summary: SEOUL, SOUTH KOREA (AUGUST 24, 2015) (REUTERS) CARS AND BUSES DRIVING ON SEOUL STREET PEOPLE WALKING INTERIOR OF DEALING ROOM AT KOREA EXCHANGE BANK ELECTRONIC BOARD SHOWING KOREA COMPOSITE STOCK PRICE INDEX (KOSPI) CLOSING AT 1829.81, DOWN 46.26 POINTS AND 2.47 PERCENT DEALERS WORKING/ ELECTRONIC BOARD SHOWING CNH/KRW EXCHANGE RATE AND KOSPI DEALER LOOKING AT MONITORS WHILE OTHERS STANDING DEALER TALKING TO EACH OTHER DEALER LOOKING AT MONITORS MORE OF INTERIOR OF DEALING ROOM
- Embargoed: 8th September 2015 13:00
- Topics: General
- Reuters ID: LVA46P6FJPED586DNFGMFCNPDBML
- Aspect Ratio: 16:9
- Story Text: Seoul shares had their sharpest daily percentage loss in more than 3 years on Monday (August 24) as investors avoided bets on riskier assets following sharp drops in Chinese stock markets.
The Korea Composite Stock Price Index (KOSPI) ended down 2.5 percent, to 1,829.81 points, its biggest percentage fall since June, 4, 2012. At one point, the index was down 4.0 percent.
Foreigners offloaded local shares for a 13th straight session, the longest selling streak since June 2013. During the streak, they have sold a net 2.65 trillion won ($2.21 billion) of shares on the main board.
The South Korean won closed local trade lower by 0.3 percent to 1,199.0 to the dollar. The losses were capped as local dealers suspected dollar-selling smoothing operations by foreign exchange authorities. The moves by authorities were sparked by tensions between North and South Korea.
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