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S.Korean stocks end lower on institutional selling, won flat
June 15, 2017 / 6:49 AM / 5 months ago

S.Korean stocks end lower on institutional selling, won flat

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SEOUL, June 15 (Reuters) - South Korean shares slid down on Thursday as local institutions sold local equities after U.S. central bank raised interest rates as expected and gave more details of its plans to reduce its massive bond portfolio.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 percent at 2,361.65 points.

Domestic institutions offloaded a net 304.2 billion won ($270.66 million) worth of KOSPI shares, while foreign investors purchased a net 11.1 billion won worth.

The South Korean won ended steady with traders unsure of the impact of the Federal Reserve’s plans.

The won was quoted at 1,124.1 to the dollar at the conclusion of onshore trade, barely changed compared with Wednesday’s close of 1,123.9. (Reporting by Dahee Kim; Editing by Kim Coghill)

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