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S.Korea won down on cash outflow worries; stocks steady
September 14, 2017 / 2:58 AM / 2 months ago

S.Korea won down on cash outflow worries; stocks steady

    * Both KOSPI's options, futures expire Thursday
    * Investors worry about sudden cash outflow -analyst
    * S&P analyst says S.Korea's economy healthy

    SEOUL, Sept 14 (Reuters) - The South Korean won        edged
down early on Thursday, the  expiration day for Seoul stock
options and futures, which could prompt a sudden outflow of
money over the session, especially with additional pressure from
the stronger dollar.
    The won            was quoted at 1,131.7 against the dollar,
down 0.3 percent compared to Wednesday's close of 1,128.5.
    "Since the options and futures both expire today, it is the
biggest issue today for the traders," said Kim Doo-un, a foreign
exchange analyst at Hana Financial Investment.
    The Korea Composite Stock Price Index (KOSPI)         was up
0.1 percent at 2,360.89 points.
    Offshore investors were set to be sellers, trimming a net
67.7 billion Korean won ($59.83 million) worth of KOSPI shares
near mid-session.
    LG Innotek            , which supplies parts for Apple's
         smartphone, rose as much as 4.7 percent ahead of the
new iPhone going on sale.
    Shares of SK Hynix             was up over 1 percent,
continued to gain after Toshiba Corp          said on Thursday
it had agreed to step up talks to sell its chip business to a
group including Bain and the South Korean chipmaker.
            
    Decliners outnumbered advancers 495 to 290.
    September futures on three-year treasury bonds        
gained 0.01 point to 109.39. 
    Earlier in the session, credit ratings agency Standard &
Poor's said that it sees no major short-term issues that could
lead to rating actions for South Korea, with a war on the Korean
Peninsula unlikely despite geopolitical tensions.             
    
                       0227 GMT    Prev close
 Dollar/won             1,131.7       1,128.5
 Yen/won             10.2371/80       10.2359
 *KTB futures            109.39        109.38
 KOSPI                 2,360.89      2,360.18
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim)
  

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