S.Korea won, stocks edge down as sentiment cools after U.S. vote delay

* Won’s slump expected to be temporary -analyst
* KOSPI set to break four-day rally

SEOUL, June 28 (Reuters) – The South Korean won and
shares both fell early on Wednesday as a delay in a U.S.
healthcare reform vote cooled market sentiment.
The won was quoted at 1,140.7 to the dollar as of
0150 GMT, down 0.3 percent compared to Tuesday’s close of
1,136.0.
The Korea Composite Stock Price Index (KOSPI) was
down 0.1 percent at 2,389.34 points, snapping its four-day
rally.
Ha Keon-hyeong, a foreign exchange analyst at Shinhan
Investment Corp, said that the slump in the won because of the
delayed healthcare vote would be temporary as the dollar is
still very weak.
“Local exporters’ dollar-selling for the month-end will also
give some support to the won,” added Ha.
Offshore investors were set to be net sellers, offloading
34.8 billion Korean won ($30.51 million) of KOSPI shares near
mid-session.
Shares related to nuclear reactor construction saw sharp
falls as the government on Tuesday it said would suspend the
construction of two partially-completed nuclear reactors.

Doosan Heavy Industries & Construction Co Ltd
dropped as much as 4.9 percent and Korea Electric Power Corp
slipped as much as 2.9 percent.
Decliners outnumbered advancers 445 to 347.
September futures on three-year treasury bonds shed
0.07 point to 109.33.

0150 GMT Prev close
Dollar/won 1,140.7 1,136.9
Yen/won 10.1721/93 10.1411
*KTB futures 109.33 109.40
KOSPI 2,389.34 2,391.95
* Front-month futures on three-year treasury bonds

(Reporting by Dahee Kim)


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