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Seoul: Shares step back from 3-1/2-wk highs; won retreats

Tuesday, February 2, 2016 - 14:21
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South Korean shares and the currency slipped on Tuesday as sluggish global manufacturing activity underscored a slowing world economy, sending oil prices lower.

[SEOUL] South Korean shares and the currency slipped on Tuesday as sluggish global manufacturing activity underscored a slowing world economy, sending oil prices lower.

The Korea Composite Stock Price Index (KOSPI) closed down one per cent at 1,906.60 points.

Foreign investors sold a net 52.5 billion won (S$61.98 million) worth of KOSPI shares on the main board, preliminary data showed.

The South Korean won lost ground amid the downturn in oil prices and offshore funds' selling.

The won was quoted at 1,207.4 to the dollar at the conclusion of onshore trade, down 0.6 per cent compared to Monday's close of 1,200.5.

REUTERS