Seoul shares drop on China rate fears, POSCO hit

Newswire

(Updates to midday) SEOUL, April 28 (Reuters) - Seoul shares fell more than 2 percent on Friday, led by firms sensitive to the Chinese economy, such as POSCO, after Beijing unexpectedly raised interest rates, creating worries that demand may slow in South Korea's top export market. Concerns that the won would appreciate also kept exporters on edge, as the local currency may be hit both by a stronger Chinese yuan and a weaker dollar. Hyundai Motor Co. , the country's biggest auto maker, ...

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