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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: S.Korean won down on recession fears, trims losses Reuters - Tuesday, November 11 SEOUL, Nov 11 - The South Korean won eased against the dollar on Tuesday after weak exports data fuelled worries over the impact of a looming global recession on the country's export-driven economy. Official data showed South Korea's exports in the first 10 days of November fell 26 percent from the same period a year earlier, adding to concerns over the impact of the global downturn on Asia's fourth-largest economy. [ID:nSEO157918] But the won trimmed early losses as some players sold dollars to book profits from recent gains and asset managers sought the local currency after Asian stock markets rallied in the previous day, dealers said. "Trading is thin and the market could swing sharply even on a small-scale deal," said a dealer at a foreign bank. The local currency was quoted at 1,336.0/8.1 per dollar as of 0337 GMT, compared with Monday's domestic close <KRW=KFTC> of 1,326.3. It slid to as low as 1,359.4. The U.S. pledged more support for struggling insurer AIG on Monday as international action to halt the financial crisis failed to divert investors from the view that the economy was in for a long and deep recession. [ID:nSP413174] The move came a day after China announced plans to spend 4 trillion yuan on infrastructure and social services, but optimism over the stimulus package soon faded. China and the United States are South Korea's top two export markets. Seoul shares <.KS11> were almost flat at midday. 0337 GMT 0050 GMT prev close Won <KRW=> 1,336.0/8.1 1,349.8/2.1 1,326.3 Yen/won <JPYKRW=R> 13.6233/499 13.8185/02 13.3916/93 KOSPI <.KS11> 1,151.79 1,138.65 1,152.46 (Reporting by Cheon Jong-woo and Rhee So-eui; Editing by Anne Marie Roantree) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business China's inflation at 17-month low, leaving room for rate cutsAFP - 32 minutes ago Samsung Sec Q2 profit drops 69 pct on investment lossReuters - 39 minutes ago Taylor Wimpey order book 6,607 homes vs 11,074Reuters - 40 minutes ago China October trade surplus hits record $35.2 blnAP - 41 minutes ago ONGC says conditions met for $2.6 bln Imperial bidReuters - 41 minutes ago Most Popular – Business Viewed In Obama's victory, Americans see legacy of Lincoln G20 pledges 'all necessary steps' to restore stability AIDS vaccines: New hope for problem-plagued path Documents expose Prince William RAF training row: report MP3 earphones can hamper defibrillators, pacemakers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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