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SEOUL, April 28 The South Korean won
slipped to a one-week low on Friday after U.S. President Donald
Trump said he would either renegotiate or terminate a free trade
pact with Seoul.
Exporters held back their dollar sales despite the usual
tendency to do so at month-end, with expectations the U.S.
currency could extend its gains in the wake of Trump's comments.
The won was quoted at 1,137.9 to the dollar at
the conclusion of onshore trade, down 0.7 percent compared to
Thursday's close of 1,130.1 - the lowest closing level since
South Korean shares edged down, snapping a six-day winning
streak with the Korea Composite Stock Price Index (KOSPI)
ending down 0.2 percent at 2,205.44 points.
For the week, however, the KOSPI, rose 1.9 percent for its
biggest weekly percentage gain since mid-March.
Foreign investors broke six-day buying spree of the KOSPI
shares, selling a net 23.1 billion won ($20.33 million) worth of
South Korea's beef importer Hanil Feed Co Ltd
skyrocketed as much as 30 percent on expectations that a
renegotiation of the free trade deal could enable U.S. beef to
freely access the Korean market.
(Reporting by Dahee Kim; Editing by Shri Navaratnam)