SEOUL: The South Korean won declined to a four-week closing low on Monday as slowing factory activity in China bolstered views of a rate cut by the Bank of Korea, already pressured by a recent string of easing measures by central banks around the world.
The won was quoted at 1,103.3 to the dollar at the conclusion of onshore trade, compared with 1,093.5 seen at the end of Friday’s session.
South Korean shares edged higher on Monday as a sharp rebound in oil prices fuelled a rally in commodity-linked shares, although gains were capped as investors fretted over nagging global growth concerns.
The Korea Composite Stock Price Index (KOSPI) gained 0.18 percent to close at 1,952.68 points.
