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Seoul: Shares edge up as battered firms get some respite; won down

Wednesday, January 7, 2015 - 14:24
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[SEOUL] South Korean shares rebounded from early losses to sneak into positive territory on Wednesday, helped by bargain hunting of battered stocks a day after the market suffered its biggest one-day slump in a year.

The Korea Composite Stock Price Index (KOSPI) ticked up 0.07 per cent to close at 1,883.83 points, reversing a 0.3 per cent deficit in early trade.

The South Korean won edged lower, as investors were nervous about backing the currency amid the broad global shift away from riskier assets and in the wake of a sharp 1 per cent gain in the previous session.

The local currency was quoted at 1,099.9 to the dollar at the conclusion of onshore trade, compared to 1,098.8 seen at the end of Tuesday's session.

REUTERS