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S.Korean stocks fall after US tech shares slide, won down
June 12, 2017 / 7:03 AM / 6 months ago

S.Korean stocks fall after US tech shares slide, won down

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SEOUL, June 12 (Reuters) - South Korean shares fell on Monday as a drop for the U.S. technology sector hurt sentiment, dragging the local sub-index for electric and electronics shares down nearly 2 percent.

The Korea Composite Stock Price Index (KOSPI) closed down 1 percent at 2,357.87 points.

LG Display was one of the biggest losers, ending 4.9 percent down. At one point, it was off 5.5 percent, the biggest daily percentage drop since mid-February.

Foreign investors sold a net 144.7 billion won ($128.35 million) of KOSPI shares for the day.

The South Korean won buckled against the dollar due to a cautious mood ahead of Federal Reserve’s June meeting, where a U.S. rate hike is largely expected.

The won was quoted at 1,127.3 to the dollar at the conclusion of onshore trade, down 0.4 percent from Friday’s close of 1,123.2. (Reporting by Dahee Kim; Editing by Richard Borsuk)

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