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Seoul: Stocks rebounds from early drop, won cuts loss

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South Korean shares reversed sharp early declines to close higher on Thursday while the country's currency pared losses against the dollar as the investor appetite for risk assets regained momentum.

[SEOUL] South Korean shares reversed sharp early declines to close higher on Thursday while the country's currency pared losses against the dollar as the investor appetite for risk assets regained momentum.

The Korea Composite Stock Price Index (KOSPI) closed up 0.5 per cent on the day at 1,906.94, representing a sharp 1.6 per cent rebound from its session low of 1,877.78.

The won ended local trade at 1,208.5 per dollar, down 0.5 per cent from Wednesday's close at 1,202.0 but off a session low of 1,211.2.

REUTERS