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Monday, April 12, 2010

S. KOREA: South Korean Won Falls on Speculation Central Bank Intervened

April 13 (Bloomberg) --

South Korea’s won weakened from an 18-month high on speculation the central bank is selling the currency in order to damp gains and support earnings of exporters.

Shares of Hyundai Motor Co., South Korea’s largest automaker, and Kia Motors Corp. yesterday fell the most in more than three months in Seoul on concern a stronger won would erode their profits. Foreign investors today sold more Korean stocks than they bought for the first day since March 11 . . .

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