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SEOUL, April 30 Seoul shares drifted down to
their weakest close in five weeks on Wednesday, giving up early
gains as foreign investors offloaded marquee names such as
Samsung Electronics and Hyundai Motor before a U.S. Federal
Reserve policy meeting ends.
The Korea Composite Stock Price Index (KOSPI) closed
down 0.2 percent at 1,961.79 points, the weakest close since
March 25 and extending its skid to a sixth session. The index
shed 1.2 percent in April.
Foreigners were net sellers of 82.2 billion won ($79.8
million) of KOSPI shares, pulling down Samsung Electronics Co
Ltd and Hyundai Motor Co 1.3 percent and
1.7 percent, respectively.
The local currency was quoted at 1,033.2 against
the dollar at the end of onshore trade, down 0.3 percent from
Tuesday's close at 1,030.6. But during April, the won rose 3
percent, its strongest monthly gain since 3.3 percent in
Seoul financial markets will be closed on Thursday due to
Labour Day and resume trading on Friday, May 2.
($1 = 1030.5500 Korean Won)
(Reporting by Jungmin Jang; Editing by Richard Borsuk)