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Korea Republic of : Seoul: Shares down; won weakens on dollar strength

May 15, 2018 (Euclid Infotech Ltd via COMTEX) --

South Korea's KOSPI stock index weakened on Tuesday following a tepid WallStreet performance overnight. The Korean won fell on the greenback's broad strength, while bond yields rose.

At 0633 GMT, the KOSPI was down 17.57 points, or 0.71 per cent, at 2,458.54. Samsung Electronics declined 1.8 per cent, while SK Hynix and LG Electronics fell 0.9 per cent and 0.6 per cent respectively.

The won was quoted at 1,073.8 per dollar on the onshore settlement platform, 0.54 per cent weaker than its previous close at 1,068. In offshore trading, the won was quoted at 1,072.73 per US dollar, down 0.24 per cent from the previous day, while in one-year non-deliverable forwards it was being transacted at 1,057.1 per dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.87 per cent, after US stocks ended the previous session with mild gains. Japanese stocks weakened 0.21 per cent. The KOSPI is up around 0.3 per cent so far this year, and up by 1.63 per cent in the previous 30 days. The current price-to-earnings ratio is 12.10, the dividend yield is 1.28 per cent and the market capitalisation is 1,242.04 trillion won.

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