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Seoul: Won snaps 3-days of gains; stocks drop
[SEOUL] The South Korean won snapped a three-day winning streak on Thursday as local currency dealers said they suspected Seoul's foreign exchange authorities were intervening to buy the greenback.
The won finished onshore trade down 0.7 per cent at 1,108.0 on the dollar compared with its previous domestic close at 1,100.8 on Thursday.
The Korea Composite Stock Price Index (KOSPI) fell 1 per cent to 2,022.56 points from the previous close of 2,042.81 points as technology and medical stocks matched declines in their US peers on Wednesday.
Market bellwether Samsung Electronics fell sharply on profit-taking, finishing down 4.3 per cent to 1,421,000 won.