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S.Korean stocks, won fall to 4-week lows on North Korea escalation fears
April 11, 2017 / 6:55 AM / 5 months ago

S.Korean stocks, won fall to 4-week lows on North Korea escalation fears

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SEOUL, April 11 (Reuters) - South Korean shares and the won weakened to about four-week lows on Tuesday on worries that North Korea could conduct another missile or nuclear test within days, even as a U.S. Navy strike group steamed toward the area.

South Korea’s acting President Hwang Kyo-ahn warned of the risk of “greater provocations” by the North and ordered the military to intensify monitoring activities.

The Korea Composite Stock Price Index (KOSPI) closed down 0.4 percent at 2,123.85 points, the weakest since March 13.

The won fell 0.3 percent at 1,145.8 to the dollar at the conclusion of onshore trade compared to Monday’s close of 1,142.2. It was the lowest closing level since March 14.

Offshore investors have been net sellers for seven straight session, offloading 126.8 billion won ($110.70 million) worth of KORSPI shares for the day. (Reporting by Dahee Kim; Editing by Kim Coghill)

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