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Seoul: Won recoups losses after rate cut, shares fall for 4th day

Thursday, March 12, 2015 - 14:22
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The South Korean won regained ground from its earlier slide to end onshore trade up against the dollar on Thursday as traders took profits from the dollar's recent rally after the Bank of Korea surprisingly cut rates.

[SEOUL] The South Korean won regained ground from its earlier slide to end onshore trade up against the dollar on Thursday as traders took profits from the dollar's recent rally after the Bank of Korea surprisingly cut rates.

The won stood at 1,126.4 against the dollar, nearly flat from its domestic close of 1,126.5 on Wednesday.

The Korea Composite Stock Price Index (KOSPI) erased modest gains earlier in the session and fell for a fourth straight day, finishing down 0.5 per cent at 1,970.59 points.

REUTERS