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SEOUL, July 1 South Korean shares slipped on
Tuesday as profit taking by domestic institutional investors
offset positive sentiment stemming from China's upbeat factory
The Korea Composite Stock Price Index (KOSPI) closed
down 0.2 percent at 1,999.00 points, after falling to an
intraday low of 1,987.89 at one point.
Domestic institutional investors sold a net 122 billion won
($120.61 million) worth of KOSPI shares, snapping an eight-day
Tech giant Samsung Electronics Co Ltd fell 0.9
percent, while automaker Kia Motors Corp slipped 1.6
The won held its ground against the dollar on caution
over possible dollar-buying intervention by the South Korean
foreign exchange authorities to stem the currency's strength.
The won was quoted at 1,011.7 versus the dollar
at the end of onshore trade, compared with Monday's domestic
close at 1,011.8.
($1 = 1011.5000 South Korean Won)
(Reporting by Jungmin Jang; Editing by Kim Coghill)