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Seoul: Won, shares fall as upbeat US data stoke Fed rate hike view

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The South Korean won and stocks fell on Monday as Friday's upbeat US economic data underpinned prospects of a Federal Reserve rate hike next month.

[SEOUL] The South Korean won and stocks fell on Monday as Friday's upbeat US economic data underpinned prospects of a Federal Reserve rate hike next month.

The won closed local trade down 0.8 per cent to 1,183.1 on the dollar.

The Korea Composite Stock Price Index (KOSPI) ended down 0.8 per cent at 1,968.52 points.

Foreigners were net sellers for an eighth straight session, marking their longest net-selling spree since Dec 23, 2014. During the period, they offloaded a net 1.15 trillion won (S$1.37 billion) worth of KOSPI shares, preliminary data showed.

REUTERS

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