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South Korea: Stocks, won drop over mounting fears of coronavirus

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The KOSPI ended down 21.12 points, or 0.93 per cent, at 2,246.13. For the week, the index shed 0.2 per cent.

[SEOUL] South Korean shares ended almost 1 per cent lower on Thursday as fears of the spread of a new flu-like virus in China dragged global markets.

China is putting on lockdown a city of 11 million people considered the epicentre of a new coronavirus outbreak that has killed 17 and infected nearly 600, as health authorities around the world scramble to prevent a global pandemic.

 The KOSPI ended down 21.12 points, or 0.93 per cent, at 2,246.13. For the week, the index shed 0.2 per cent.

South Korean financial markets will be closed on Friday and Monday for the Lunar New Year holidays. Markets will resume trading at normal hours on Tuesday.

Foreigners were net sellers of US$116.35 millio worth of shares on the main board.

The KOSPI has risen 2.21 per cent so far this year, and gained 8.9 per cent in the previous 30 trading sessions.

The trading volume was 502.81 million shares and, of the total traded issues of 908, the number of advancing shares was 258.

REUTERS