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Seoul shares drift higher, won slides as hawks underpin dollar
August 25, 2014 / 6:21 AM / 3 years ago

Seoul shares drift higher, won slides as hawks underpin dollar

SEOUL, July 22 (Reuters) - Seoul shares edged up on Monday after keeping flat for most of the session, with investors holding back on more aggressive bets after sensing hawkish undertones after the Jackson Hole meeting of central bank chiefs.

The Korea Composite Stock Price Index (KOSPI) closed up 0.2 percent at 2,060.89 points.

Blue-chip bellwether Samsung Electronics Co Ltd fell 1.52 percent. It hit a one-year intraday session on Monday amid worries that earnings for the current quarter will be lower than forecast.

The South Korean won ticked lower as the dollar picked up strength on the prospects of an early rate hike by the Fed.

The local currency was quoted at 1,020.2 at the conclusions of domestic trade on Monday. (Reporting by Joonhee Yu; Editing by Richard Borsuk)

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