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S.Korea won, stocks wobble; N.Korea, Samsung risks in focus
February 13, 2017 / 3:01 AM / in 8 months

S.Korea won, stocks wobble; N.Korea, Samsung risks in focus

    * N.Korea worries grow but won reacting more to yen -analyst
    * N.Korea, Samsung chief risks weigh on Samsung Elec shares

    SEOUL, Feb 13 (Reuters) - The South Korean won        and
stocks got off to a shaky start on Monday as worries over North
Korea's test launch of a new missile were offset by relief that
talks between U.S. President Donald Trump and Japanese Prime
Minister Shinzo Abe appeared to go smoothly.
    North Korea said that it had successfully test-fired a new
type of medium- to long-range ballistic missile the previous
day.             
    The won            was quoted at 1,150.1 against the dollar,
little change from its previous close of 1,150.6.
    It found some relief after the U.S.-Japan summit ended with
no tough rhetoric over trade and currency policy.             
    "The local currency is reacting more to the yen's movement
as the market has long been aware of North Korea risks," said
Jeon Seung-ji, a foreign exchange analyst at Samsung Futures.
    Jeon expected the won to trade in a range of 1,140-1,160
this week.
    The finance ministry said on Monday that foreign exchange
authorities would be on the lookout for any volatility over the
North Korea provocation, although based on previous incidents,
the market was largely expected to shrug it off.
    South Korean shares also wobbled on geopolitical worries,
while Samsung Group           leader Jay Y. Lee's attendance at
South Korean special prosecutor's office also affected market
sentiment.             
    The Korea Composite Stock Price Index (KOSPI)         was
little changed at 2,076.28 points.
    Offshore investors were set to be small net sellers of KOSPI
shares near mid-session.
    Market heavyweight Samsung Electronics Co Ltd            
shares were down nearly 1 percent, hurt by the investigation
into the Samsung Group leader.
    Lee is accused of pledging 43 billion won to a business and
organisations backed by President Park Geun-hye's friend, Choi
Soon-sil, in exchange for support for a merger of two Samsung
companies. 
    Steelmaker Posco             rose 1.1 percent.
    Advancers outnumbered decliners 438 to 346.
    March futures on three-year treasury bonds         shed 0.02
point to 109.51. 
    
                       0244 GMT    Prev close
 Dollar/won             1,150.1       1,150.6
 Yen/won             10.0815/62       10.1129
 *KTB futures            109.51        109.53
 KOSPI                 2,076.28      2,075.08
 * Front-month futures on three-year treasury bonds

 (Reporting by Dahee Kim; Editing by Kim Coghill)
  

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