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S. Korean Shares Tumble on Renewed Brexit Woes

Written: 2016-07-06 19:21:13Updated: 2016-07-07 09:03:31

S. Korean Shares Tumble on Renewed Brexit Woes

South Korean shares tumbled on Wednesday on renewed fears over Britain’s decision to leave the European Union.

The benchmark Korea Composite Stock Price Index(KOSPI) lost 36-point-73 points, or one-point-85 percent, to close at one-thousand-953-point-12.

The KOSPI opened lower at one-thousand-980-point-11, down nine-point-74 points, and fell to one-thousand-944-point-33 at one point during the session due to massive selling by foreigners and institutions. Foreigners dumped over 420 billion won worth of local shares.

On the foreign exchange market, the local currency closed at one-thousand-165-point-six won against the U.S. dollar, plunging ten-point-20 won in value from the previous day.

On the Korea Exchange, the price of gold closed at 50-thousand-910 won per gram, up two-point-33 percent from the previous day.

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