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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] SEOUL, June 5 — The South Korean won weakened sharply against the U.S. dollar, closing at 1,529.7 on June 4, up 13.3 won from the previous session, amid geopolitical uncertainty and sustained foreign investor outflows.
The currency has remained above the 1,500 level for 13 consecutive trading days, marking the longest stretch since the 2009 global financial crisis.
Market sentiment was pressured by escalating tensions in the Middle East, rising global oil prices and continued foreign selling in local equities. Foreign investors extended their selling streak to 19 consecutive sessions, offloading nearly 7 trillion won worth of stocks on the day.
The benchmark KOSPI index fell 1.84% as capital outflows accelerated.
Authorities signaled readiness to act against excessive volatility, while exporter dollar sales and reports of a ceasefire agreement in the region helped limit further losses in the won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
