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Seoul: Won posts worst fall in 2 weeks; shares at 3-week high


[SEOUL] The South Korean won posted its biggest fall against the dollar in two weeks on Wednesday after the greenback was bolstered by upbeat US housing data and steep losses in the euro.

The won closed local trade down 0.7 per cent at 1,096.0 per dollar, compared with the previous close at 1,088.1. The local currency suffered its biggest daily percentage fall since May 7.

The Korea Composite Stock Price Index (KOSPI) ended up 0.9 per cent at 2,139.54 points, its highest closing level since April 29. The KOSPI gained for a third straight session, underpinned by brokerage and pharmaceutical shares. It closed at 2,120.85 on Tuesday.