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S.Korea won, stocks subdued as N.Korea worries offset Wall St records
September 13, 2017 / 2:47 AM / a month ago

S.Korea won, stocks subdued as N.Korea worries offset Wall St records

    * President Trump says tougher steps needed on N.Korea
    * Lingering worries cap further monetary inflow -analyst
    * Markets waiting for China, U.S. econ data end of this week
    * EV-related shares shine in Seoul bourse

    SEOUL, Sept 13 (Reuters) - The South Korean won        and
shares struggled for traction on Wednesday as lingering worries
over tensions between the United States and North Korea offset
the global "feel good" factor from another record day on Wall
Street.
    U.S. President Donald Trump said on Tuesday the U.N.
sanctions on North Korea agreed this week were a small step and
nothing compared to what would have to happen to deal with the
country's nuclear program.             
    The won            was at 1,126.7 to the dollar by 0236 GMT,
up 0.2 percent from Tuesday's close of 1,128.5.
    The Korea Composite Stock Price Index (KOSPI)         inched
up 0.1 percent to 2,368.25 points.
    "Investors think that North Korea risks still could crop up
at any time, which is capping additional monetary inflow into
local financial markets and holding the won at around the 1,130
level," said Ha Keon-hyeong, a foreign exchange analyst at
Shinhan Investment Corp.
    While the won was largely listless now, it could get some
direction from economic data from China and the United States
later this week, he said.
    While declining issues outnumbered advancing ones in Seoul
bourse, electric vehicle-related shares were strong as fast
growth in EV demand was expected. 
    South Korean EV parts company Hanon Systems             rose
over 6 pct to a one-year high.
    EV battery makers Samsung SDI             gained as much as
4.3 pct while LG Chem             jumped over 5 pct to its
highest since late Feb of 2012, marking biggest daily pct gain
in more than a year.                          
    Foreign investors were set to be net sellers of the KOSPI
shares, offloading 20.1 billion Korean won ($17.84 million)
worth near mid-session.
    September futures on three-year treasury bonds        
gained 0.01 point to 109.34. 
    
                       0236 GMT    Prev close
 Dollar/won             1,126.7       1,128.5
 Yen/won             10.2353/99       10.2341
 *KTB futures            109.34        109.33
 KOSPI                 2,368.25      2,365.47
 * Front-month futures on three-year treasury bonds
    

 (Reporting by Dahee Kim; Editing by Kim Coghill)
  

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