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Seoul shares up slightly; econ, credit fears weigh

Thu Oct 9, 2008 2:11am EDT

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SEOUL, Oct 9 (Reuters) - Seoul shares ended slightly higher on Thursday, but lost much of their earlier 3 percent gains on a Bank of Korea interest rate cut as volatility in forex markets and economy worries kept investors wary.

But banks were helped by the interest rate cut, sending Shinhan Financial Group (055550.KS) 3.93 percent higher.

The Korea Composite Stock Price Index closed 0.64 percent higher at 1,294.89 points, down from a nearly 3 percent gain at the session's high of 1,324.36 points, but up from the session low of 1,274.46 points.

(Reporting by Park Jung-youn; Editing by Jonathan Hopfner)



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