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S.Korean stocks at near 3-month low, won falls on Fed rate outlook
May 24, 2016 / 6:16 AM / a year ago

S.Korean stocks at near 3-month low, won falls on Fed rate outlook

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SEOUL, May 24 (Reuters) - South Korean shares and the won extended losses on Tuesday as comments from U.S. Federal Reserve officials supporting a June rate hike caused market participants to turn away from risky assets.

The Korea Composite Stock Price Index (KOSPI) closed down 0.9 percent at 1,937.68 points, its lowest since Feb. 29.

Foreign investors sold a net 58.3 billion won ($48.93 million) worth of KOSPI shares during the session.

The South Korean won ended at its weakest level in 10 weeks.

The won was quoted at 1,192.7 to the dollar at the conclusion of onshore trade, down 0.8 percent compared to Monday's close of 1,182.9. (Reporting by Dahee Kim; Editing by Sunil Nair)

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