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KOSPI, KOSDAQ Close Lower amid Geopolitical Concerns

Written: 2017-04-10 16:35:43Updated: 2017-04-10 20:15:18

KOSPI, KOSDAQ Close Lower amid Geopolitical Concerns

The benchmark Korea Composite Stock Price Index(KOSPI) saw a drop of nearly one percent on Monday amid expanded geopolitical risks.
 
The KOSPI fell 18-point-41 points, or point-86 percent, to close at two-thousand-133-point-32.
 
The tech-heavy KOSDAQ also slipped 13-point-91 points, or two-point-20 percent, to close at 619-point-41.
 
Geopolitical concerns have emerged after the U.S.-China summit raised conflicts related to North Korea’s nuclear risk.
 
On the foreign exchange market, the value of the local currency weakened seven-point-seven won against the U.S. dollar, closing at one-thousand-142-point-two won. 

The weakening of the won comes after concerns that the U.S. might label China a currency manipulator diminished following the U.S.-China summit.
 

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