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South Korean shares extend losses ahead of Powell testimony

Round-up of South Korean financial markets: ....

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KOSPI rallies as Fed shows signs of slowing rate hikes

The benchmark KOSPI advanced Thursday after the U.S. Fed slowed its pace of rate hikes, in a relief rally buoyed by increasing hopes for an end to the cycle of global monetary tightening. Other multiple indices also moved in favor of risky assets, with the U.S. dollar losing its ground against the Korean won. Cryptocurrencies extended gains after the Fed s “unsurprising” decision of increasing its benchmark rate by 25 basis points. ....

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