SEOUL: South Korean stocks suffered heavy losses at the end of Friday’s session as a tornado of instability swept across the global economic markets after Switzerland suddenly dropped its exchange rate ceiling against the euro on Thursday.
The Korea Composite Stock Price Index (KOSPI) slumped 1.36 percent to close at 1,888.13.
The South Korean won firmed against the dollar, tracking sharp gains in the yen as risk-averse investors took shelter in the safe-haven Japanese currency.
The won was quoted at 1,077.3 to the dollar at the conclusion of onshore trade, compared to 1,083.3 seen at the end of Thursday’s session.
South Korean treasury bonds rallied on the broad flight to safety as benchmark three-year notes for March delivery added 9 basis points to trade at 108.56
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Hong Kong, (UrduPoint / Pakistan Point News - 25th Jun, 2018 ) :Hong Kong and mainland Chinese stocks fell on...
