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S.Korean stocks log worst day in 8 weeks, post weekly loss
June 20, 2014 / 6:16 AM / 3 years ago

S.Korean stocks log worst day in 8 weeks, post weekly loss

(For the midday report, please click )

SEOUL, June 20 (Reuters) - South Korean shares suffered their worst single-day loss in eight weeks on Friday as fears of weaker earnings unnerved offshore investors, prompting a selloff in heavyweight exporters such as Samsung Electronics and Hyundai Motor.

The Korea Composite Stock Price Index (KOSPI) closed down 1.2 percent at 1,968.07 points, the biggest daily percentage drop since April 25.

The index slipped 1.1 percent for the week, its second straight weekly loss.

Foreign investors sold a net 453 billion won ($445.08 million) worth of KOSPI shares, pulling Samsung Electronics Co Ltd and Hyundai Motor Co down 1.7 percent and 2.5 percent, respectively.

The won was quoted at 1,020.6 per dollar at the end of onshore trade, down 0.2 percent from Thursday’s domestic close of 1,018.7. On a weekly basis, it fell 0.3 percent.

$1 = 1017.8000 South Korean Won Reporting by Jungmin Jang; Editing by Kim Coghill

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