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Seoul: Shares down on global growth concerns; won rises
[Seoul] South Korean shares tumbled on Friday, hovering just above a near 7-month intraday low hit late in the session, as weak German economic data stoked worries over slowing global growth.
The Korea Composite Stock Price Index (KOSPI) fell 1.24 per cent to close at 1,940.24 points. It was down 1.8 per cent for the week.
The South Korean won was firmer on Friday, with investors trimming bullish bets on the dollar after a dovish tone was detected in the latest U.S Federal Reserve minutes.
The local currency was quoted at 1,070.5 to the dollar at the conclusion of onshore trade, compared with Wednesday's close of 1,074.1.
South Korean financial markets were closed for a holiday on Thursday.