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S.Korea won weakens slightly on dollar strength; stocks shaky
January 4, 2017 / 3:09 AM / a year ago

S.Korea won weakens slightly on dollar strength; stocks shaky

* Won unlikely to fall beyond 1,210 though dlr stands tall
    * Foreign investors set for 6th straight stock-buying

    SEOUL, Jan 4 (Reuters) - The South Korean won 
weakened slightly in early trading on Wednesday, as a stronger
U.S. dollar offset support from positive economic data from
Asia's leading economies.
    The won was quoted at 1,208.3 to the dollar as
of 0254 GMT, down 0.4 percent compared to Tuesday's close of
    "The U.S. is not the one and only country that is growing.
South Korea's exports have been showing signs of recovery,
China's factory activity picked up yesterday and Japan's
economic data released today also was very positive," said Jung
Sung-yoon, a foreign exchange analyst at Hyundai Futures.
    Positive global economic data should help boost risk
appetite, limiting the dollar's gain against the local currency
to below 1,210, Jung said.
    South Korean shares wobbled as domestic institutions sold
shares, offsetting foreign and selective buying.
    The Korea Composite Stock Price Index (KOSPI) was at
2,043.98 points, little changed from the previous close.
    Offshore investors were set to be buyers for six consecutive
sessions, purchasing a net 58.6 billion Korean won ($48.52
million) worth of KOSPI shares near mid-session.
    Web portal Naver Corp gained more than 3 percent
on hopes of its positive fourth-quarter earnings. 
    Chipmaker SK Hynix Inc lost 1.6 percent.
    Decliners and advancers were almost even by 398 versus 387.
    March futures on three-year treasury bonds shed 0.01
point to 109.62. 
                       0254 GMT    Prev close
 Dollar/won             1,208.3       1,203.5
 Yen/won             10.2330/07       10.2387
 *KTB futures            109.62        109.63
 KOSPI                 2,043.98      2,043.97
 * Front-month futures on three-year treasury bonds  

 (Reporting by Dahee Kim; Editing by Randy Fabi)

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