The Seoul stock market's main KOSPI index closed down 1.49 points, or 0.07 per cent, to 2,160.69.[SEOUL] South Korean shares closed slightly lower on Monday, recouping most of their early losses after China cut a key lending rate for the first time in over four years and raised hopes of further stimulus to prop up growth.Earlier in the day, it fell as much as 0.
Continued selloff by foreign investors and increasingly violent protests in Hong Kong outweighed news of the interest rate cut in China, according to Kiwoom Securities analyst Seo Sang-young.The KOSPI has risen 5.86 per cent so far this year, while it gained 3.2 per cent in the previous 30 trading sessions.
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