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S.Korea stocks edge up, won snaps 5-day skid on U.S. Fed relief
June 19, 2014 / 6:10 AM / 3 years ago

S.Korea stocks edge up, won snaps 5-day skid on U.S. Fed relief

(For the midday report, please click )

SEOUL, June 19 (Reuters) - South Korean shares edged higher on Thursday on optimism over the U.S. Federal Reserve’s commitment to retain an accommodative monetary policy, offsetting worries over Samsung Electronics’ April-June earnings outlook.

The Korea Composite Stock Price Index (KOSPI) closed up 0.1 percent at 1,992.03 points after touching an intraday low of 1,985.89.

Samsung Electronics Co Ltd, KOSPI’s largest component, fell 2.6 percent on worries about the coming April-June quarter earnings after local brokerages cut their forecast.

The won rose against the dollar to snap a five-day losing streak, buoyed by the Fed meeting outcome.

The local currency was quoted at 1,018.7 versus the dollar at the end of onshore trade, up 0.4 percent from Wednesday’s domestic close of 1,022.4. (Reporting by Jungmin Jang; Editing by Richard Borsuk)

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