South Korean shares dipped on Monday to break a four-day winning run, reacting to concerns over potential inflation caused by OPEC’s recent surprise output cuts. Alongside the drop in the stock index, the Korean won also fell markedly against the US dollar. Data had shown that US inflation figures might slow down at some point, however these latest moves are fuelling renewed fears. Analysts pointed to foreign and institutional investors’ net selling, and the fact institutions and foreigners sold a combined KRW 495bn ($455m), compared with individuals’ stock purchases of KRW 479bn. Samsung, tech, auto and airline shares drove the decline.
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