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Shares Recover, Won-Dollar Rate Drops

Written: 2008-07-07 19:05:03Updated: 0000-00-00 00:00:00

The benchmark Korea Composite Stock Price Index (KOSPI) has recovered for the first time in eight trading days.

The KOSPI closed at 1579-point-seven-two points Monday, up one-point-seven-eight points, over a tenth of a percentage point from Friday’s close.

However, the tech-heavy KOSDAQ dropped four-point-one-three points to 534-point-one-seven.

Individual investors joined in selling sprees as foreign investors recorded net sales for 21 days straight and thus pulled down the shares to nearly 1560-level during the day. However, institutions went on buying and pushed up the share prices.

In the Seoul foreign exchange market, the won-dollar exchange rate closed at 1042-point-nine won per dollars, down seven-and-a-half won from Friday’s close.

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