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S.Korea won, stocks slide to near 4-wk low on geopolitical risks
April 10, 2017 / 2:49 AM / 6 months ago

S.Korea won, stocks slide to near 4-wk low on geopolitical risks

    * Won, KOSPI both set for fifth straight sessions of decline
    * Foreign investors poised to dump stocks for six
consecutive days

    SEOUL, April 10 (Reuters) - South Korea's won        and
stock market fell to near four-week lows on Monday, as investors
flocked to safe-haven assets amid rising geopolitical risks.
    The won            fell 0.7 percent to 1,142.3 against the
dollar, the weakest since March 15.
    The Korea Composite Stock Price Index (KOSPI)         also
declined to its lowest since mid-March, down 0.8 percent to
2,133.59 points.
    U.S. President Donald Trump last week pressed Chinese
President Xi Jinping to do more to curb North Korea nuclear
programmes. U.S. Secretary of State Rex Tillerson said Xi had
agreed to increase cooperation in reining in North Korea -
though he did not offer any new formula for cracking Pyongyang's
defiant attitude.             
    "Trump and Xi's summit, the biggest recent event for market
players, is believed to have not reached a clear solution for
North Korea's possible future provocations, pressuring the won
continuously," said Jung Sung-yoon, a foreign exchange analyst
at Hyundai Futures.
    Foreign investors looked set for a sixth consecutive
stock-selling session, offloading 65.3 billion Korean won
($57.18 million) worth of KOSPI shares near midday.
    South Korea's defence-related shares rose in the wake of the
U.S.-China summit. Firstec Co Ltd             gained more than 4
percent, while Huneed Technologies             rose nearly 2
percent.
    Tech firm LG Electronics Inc             lost 3.1 percent. 
    Decliners outnumbered advancers 692 to 123.
    June futures on three-year treasury bonds         shed 0.09
point to 109.28. 
    
                       0245 GMT    Prev close
 Dollar/won             1,142.3       1,134.5
 Yen/won             10.2470/09       10.2323
 *KTB futures            109.28        109.37
 KOSPI                 2,133.59      2,151.73
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Randy Fabi)
  

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