January 8, 2020 / 1:43 AM / a month ago

S.Korea says bracing for more market volatility; Kospi, won skid

SEOUL, Jan 8 (Reuters) - South Korea on Wednesday said it was bracing for more market volatility after its currency and shares fell following Iran’s rocket attack on U.S.-Iraqi air bases earlier in the morning.

“It’s possible financial market volatilities across FX and stocks could widen today,” Finance Minister Hong Nam-ki told reporters in Seoul.

“(Authorities) will closely monitor capital flows of stocks and currency markets in particular.”

The Korean won was off 1% against the U.S. dollar shortly after opening, hovering near a one-month low.

The Kospi fell 1.5% to 2,143.89, also the lowest since mid-December.

The U.S. military said Iran fired more than a dozen ballistic missiles against at least two Iraqi military bases hosting U.S.-led coalition personnel.

Korean government bond futures rallied, with the three-year bond futures up 0.1% to 110.73.

Reporting by Joori Roh and Cynthia Kim; Editing by Tom Hogue

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