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Seoul: Shares steady ahead of EU summit on Greece; won edges down
[SEOUL] South Korean shares closed flat as trepidation before a European Union summit seeking to pull Greece from the brink of default eclipsed news that Seoul will inject extra fiscal stimulus to recharge a faltering economy.
The South Korean government said early on Thursday that it will pass a supplementary budget to counter economic fallout from the outbreak of Middle East Respiratory Syndrome (Mers), and slashed its growth and inflation forecasts for the year.
The Korea Composite Stock Price Index (KOSPI) ended at 2,085.06 points, almost flat from the previous close at 2,085.53 points.
The won finished local trade down 0.1 per cent at 1,110.0 to the dollar from the previous close at 1,108.4, falling for a third straight day.