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S.Korean stocks, won hit 3-wk closing lows as geopolitical tensions weigh
April 6, 2017 / 6:55 AM / in 8 months

S.Korean stocks, won hit 3-wk closing lows as geopolitical tensions weigh

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SEOUL, April 6 (Reuters) - South Korean shares and its currency won closed at three-week lows on Thursday as geopolitical risks weighed on investor sentiment after North Korea test-fired a ballistic missile into the sea off its east coast on Wednesday.

The launch came ahead of a summit between U.S. and Chinese leaders who are set to discuss Pyongyang’s increasingly defiant arms programme.

The won was quoted at 1,133.2 to the dollar at the conclusion of onshore trade, its lowest closing level since March 15. It was down 0.8 percent, compared with Wednesday’s close of 1,124.4.

The Korea Composite Stock Price Index (KOSPI) ended 0.4 percent lower at 2,152.75, the lowest since March 16.

Foreign investors offloaded a net 93.1 billion won ($82.15 million) worth of KOSPI shares, net selling equities for a fourth straight session. (Reporting by Dahee Kim; Editing by Biju Dwarakanath)

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