Korea's financial market rattled on emerging market woes, Fed decision, weak Chinese economyUpdated: 2014-02-03 21:53:37 (KST)
The Korean currency fell by the most in more than seven months against the U.S. dollar on this Monday as the U.S. Federal Reserve's quantitative easing sparked concerns about capital outflows from emerging markets.
The Korean won shed more than 14 won to finish the day at 1,84 won against the greenback.
Analysts in Seoul are saying that while the dollar gained ground, aided by the Fed's stimulus cut and emerging market jitters, the Korean won weakened as foreign investors unloaded stocks.
Meanwhile, shares in Seoul also finished the trading session lower in response to further Fed stimulus cuts. and soft Chinese economic surveys.
The benchmark KOSPI closed down 1.1 percent at 19-20, while the tech-heavy KOSDAQ dropped point-3 percent.
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