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S.Korea won, stocks calm; cautious ahead of Trump-Abe summit
February 9, 2017 / 2:41 AM / 10 months ago

S.Korea won, stocks calm; cautious ahead of Trump-Abe summit

    * Talks from the summit likely to affect yen - analyst
    * Won's movement expected to be influenced by yen
    * Foreign investors selling stocks for third session

    SEOUL, Feb 9 (Reuters) - The South Korean won       
remained mostly unchanged on Thursday as cautious market players
held their positions ahead of U.S. President Donald Trump and
Japanese Prime Minister Shinzo Abe's summit this week, which is
expected to have a critical sway on financial markets.
    The won            stood at 1,146.8 to the dollar as of 0214
GMT, little changed compared with Wednesday's close of 1,147.2.
    "The Japanese yen may move wildly after the results from the
summit, and the won may also react sensitively to the currency's
movement," said Ha Keon-hyeong, a foreign exchange analyst at
Shinhan Investment Corp.
    South Korean shares were also nearly unchanged with the
Korea Composite Stock Price Index (KOSPI)         at 2,068.81
    Offshore investors were set to be net sellers for three
consecutive sessions, offloading 55.5 billion Korean won ($48.44
million) worth of KOSPI shares near mid-session. 
    Steelmaker Posco             climbed as much as 2.2 percent
while chipmaker SK Hynix             slided as much as 3.5
    Decliners and advancers were almost even by 408 to 377.
    March futures on three-year treasury bonds         gained
0.03 point to 109.61. 
                       0214 GMT    Prev close
 Dollar/won             1,146.8       1,147.2
 Yen/won             10.2048/92       10.2189
 *KTB futures            109.61        109.58
 KOSPI                 2,068.81      2,065.08
 * Front-month futures on three-year treasury bonds    

 (Reporting by Dahee Kim; Editing by Sherry Jacob-Phillips)

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