S.Korea shares at near 3-week closing low on Fed tapering talk

SEOUL Wed Dec 4, 2013 1:12am EST

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SEOUL Dec 4 (Reuters) - South Korean shares fell to their lowest close in nearly three weeks on Wednesday, pressured by foreign selling of local shares in fear that the U.S. Federal Reserve could begin scaling down its stimulus earlier than anticipated.

The Korea Composite Stock Price Index (KOSPI) closed down 1.1 percent at 1,986.80 points, its lowest close since Nov.14.

Foreign investors sold a net 404.6 billion won ($381.27 million) worth of local shares, most since June 21 to weigh on the main bourse.

Automaker Hyundai Motor Co extended its skid to a fifth consecutive session on a November sales decline and the weaker yen, dropping 2.5 percent on Wednesday, on track for the worst weekly performance since first week of April. ($1 = 1061.2000 Korean won) (Reporting by Jungmin Jang; Editing by Kim Coghill)

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