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Seoul stocks gain, won edges up; N.Korea retaliation for U.N. sanctions feared
September 12, 2017 / 2:18 AM / 2 months ago

Seoul stocks gain, won edges up; N.Korea retaliation for U.N. sanctions feared

    * KOSPI, won both up buoyed by strong U.S. stocks
    * Markets eye on possible N.Korea attacks after new UN
sanctions
    * Investors also cautious ahead of Sept Fed meeting

    SEOUL, Sept 12 (Reuters) - South Korean shares rose to a
near two-week high and the won        edged up early on Tuesday
as investment sentiment  improved following gains in the U.S.
stock markets overnight.
    Further rises were capped, however, after the United Nations
Security Council unanimously stepped up sanctions against North
Korea raising some anxiety over retaliatory action by Pyongyang.
   
    The new sanctions came after Pyongyang's sixth and most
powerful nuclear test conducted on Sept. 3, and imposed a ban on
the country's textile exports and capped its imports of crude
oil at current levels.             
    The Korea Composite Stock Price Index (KOSPI)         was up
0.3 percent at 2,364.92 points as of 0154 GMT, highest intraday
trading level since Aug. 31.
    The won            was quoted at 1,130.7 to the U.S. dollar,
up 0.1 percent versus Monday's close of 1,131.9.
    "Investors seem to be thinking that the new sanctions from
the U.N. at least have some possibilities to prompt another
provocation from North Korea," said Kim Ye-eun, a stock analyst
at Cape Investment & Securities.
    She added that the Federal Reserve's September policy
meeting, which starts on Sept. 19, has also led some market
players to stay on the sidelines. 
    Offshore investors were poised to be net sellers of KOSPI
shares. They sold 56.9 billion Korean won ($50.35 million) worth
near mid-session.
    Cosmetics-related shares pared Monday's losses with
Amorepacific             up 1.3 percent and Hankook Cosmetic
            up 5.6 percent. 
    Market heavyweight SK Hynix             gained nearly 1
percent. 
    Advancing issues outnumbered declining ones 416 to 346.
    September futures on three-year treasury bonds         lost
0.01 point to 109.30. 
    
                       0154 GMT    Prev close
 Dollar/won             1,130.7       1,131.9
 Yen/won             10.3331/49       10.3211
 *KTB futures            109.30        109.31
 KOSPI                 2,364.92      2,359.08
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim)
  

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