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Seoul: Stocks slide to 6-week lows on foreign sales, won steady

Wednesday, October 26, 2016 - 14:56

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[SEOUL] South Korean shares finished at six-week lows on Wednesday, as foreign investors took profit amid increasing caution over the Federal Reserve's next policy decision.

The Korea Composite Stock Price Index (Kospi) closed down 1.1 per cent at 2,013.89 points, its lowest closing level since Sept. 13, 2016.

Offshore investors sold a net 82.8 billion won (S$101.5 million) worth of Kospi shares.

The South Korean won, which was firmer earlier in the session, changed course just before the closing bell as a sharp drop in the main board pressured the currency.

The won was quoted at 1,134.0 to the US dollar at the conclusion of onshore trade, little changed compared with Tuesday's close of 1,133.5.

REUTERS

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