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S.Korea stocks, won take breather before Fed decision
June 14, 2017 / 2:51 AM / 4 months ago

S.Korea stocks, won take breather before Fed decision

    * KOSPI touches record high before reversing gains
    * Fed's timing for monetary tightening largely in focus

    SEOUL, June 14 (Reuters) - South Korean shares touched a
record high on Wednesday before reversing gains as investors
turned more cautious ahead of the outcome of the U.S. Federal
Reserve policy meeting. 
    The Korea Composite Stock Price Index (KOSPI)         was
down 0.2 percent at 2,369.67 as of 0218 GMT, after touching a
record high of 2,387.29 as soon as the market opened.
    "The index gradually gave up its gains as the cautious mood
strengthened in the stock markets," said Kim Ye-eun, a stock
analyst with Cape Investment & Securities.
    Market players are waiting for any hints from the Fed
statement on when the central bank will reduce its massive
balance sheet, Kim added.
    Offshore investors were poised to be small net sellers of
KOSPI shares near mid-session.
    Advancers and decliners were almost even by 395 to 391.
    Market heavyweights showed mixed movements with Hyundai
Motor             up 2.7 percent and Korea Electric Power Corp
            down 1.8 percent. 
    The South Korean won            rose 0.2 percent to 1,125.4
against the dollar, compared with Tuesday's close of 1,128.3.
    June futures on three-year treasury bonds         shed 0.06
point to 109.52. 
    
                       0218 GMT    Prev close
 Dollar/won             1,125.8       1,128.3
 Yen/won             10.2346/92       10.2365
 *KTB futures            109.53        109.59
 KOSPI                 2,369.67      2,374.70
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Subhranshu Sahu)
  

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