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Seoul: Shares end at 8-month low; won firmer

Thursday, October 16, 2014 - 14:22

[Seoul] South Korean shares finished at an 8-month low on Thursday, as soft US economic data triggered fresh concerns over global growth although bargain hunting helped to pare losses.

The Korea Composite Stock Price Index (KOSPI) shed 0.37 per cent to close at 1,918.83 points, its lowest since Feb 6. The index fell as much as 1.1 per cent in early trade.

The South Korean won edged higher on short-covering as the dollar turned bearish on dashed expectations of an early rate hike by the U.S Federal Reserve.

The local currency was quoted at 1,061.5 to the dollar at the conclusion of onshore trade, compared with Wednesday's session close of 1,063.1.

- REUTERS