(For the midday report, please click )
SEOUL, July 7 The South Korean won eased
from six-year highs on Monday as investors awaited comments from
the central bank and finance minister nominee later in the week
for any clues on possible policy easing.
The won was quoted at 1,010.5 versus the dollar
at the end of onshore trade, down 0.2 percent from Friday's
domestic close of 1,008.9.
A spate of data in recent months have shown the economy is
losing momentum, lending support to a vocal minority view that
the central bank may be forced to cut interest rates to spur
growth. The Bank of Korea meets on Thursday.
On Tuesday, traders will be looking to testimony from the
finance minister nominee at a parliamentary hearing for any
hints of stimulus measures.
The Korea Composite Stock Price Index (KOSPI) closed
down 0.2 percent at 2,005.12 points, as institutional investors
offloaded 252 billion won ($249.41 million) worth of KOSPI
shares before the release of Samsung Electronics' earnings
Samsung Electronics Co Ltd, the biggest KOSPI
component, shed 1.1 percent. It earnings likely fell 12.6
percent during April-June, according to a Thomson Reuters
I/B/E/S poll. It will release its earnings guidance before
market opening on Tuesday.
Offshore investors positioned as net buyers for an eighth
consecutive session, picking up 186 billion Korean won worth of
shares, helping to limit losses on the main bourse.
($1 = 1010.4000 South Korean Won)
(Reporting by Jungmin Jang; Editing by Kim Coghill)