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SEOUL, June 26 The South Korean won
strengthened against the dollar, posting its largest daily gain
in seven weeks as the greenback was laid low by a downward
revision to U.S. gross domestic product data showing the economy
contracted more than expected.
The won was quoted at 1,016.2 per dollar at the
end of onshore trade, up 0.5 percent from Wednesday's 1,021.0
and the biggest daily percentage rise since a 0.8 percent gain
on May 7.
Won buying by South Korean exporters in order to meet end of
month settlements added to the currency's strength.
The Korea Composite Stock Price Index (KOSPI) closed
up 0.7 percent at 1,995.05 points, the highest close since June
17 and bounced back from the Wednesday's 0.6 percent decline.
Kia Motors Corp rose 2.6 percent on expectations
that the South Korean automaker may build its first factory in
(Reporting by Jungmin Jang)