South Korea won falls

The South Korean won ended the first trading day of 2012 slightly lower as risk appetite weakened on disappointing economic data and a warning from the country's president that the global economy had entered a period of prolonged low growth. The local currency finished at 1,155.8 against the dollar, compared to Friday's close at 1,151.8. Traders said losses were limited as many global markets remained closed on Monday as a continuance of the new year holiday.
"The won's losses were capped because of market positions and a stable stock market," said a foreign bank dealer. "Everyone was pretty much in a wait-and-see situation." Bonds showed little movement as there was little to affect traders' positions, dealers said. March futures on three-year treasury bonds rose 0.02 points to 104.67. The yield on the benchmark 5-year treasury bonds rose 1 basis point to 3.47 percent while the yield on 3-year treasury bonds stayed pat at 3.34 percent.