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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: SKorean stocks finish worst year since 2000 AP - 2 hours 46 minutes ago SEOUL, South Korea - South Korea's benchmark stock index rose slightly Tuesday, but still closed out its worst year since 2000. The South Korean won had its biggest annual drop against the dollar since the 1997 Asian financial crisis. The Korea Composite Stock Price Index gained 6.88 points, or 0.6 percent, to finish 2008 at 1,124.47. The Kospi, however, fell 40.7 percent in 2008, its third worst performance ever and biggest decline since plunging 50.9 percent in 2000. The index's second-largest decline was in 1997, when it fell 42.2 percent. South Korean stocks, which had risen for five straight years through 2007, fell this year as foreign investors sold shares at a record pace. Foreign investors were net sellers of shares to the tune of 33.6 trillion won ($26.7 billion), according to figures from the Korea Exchange. The South Korean won rose 0.3 percent against the dollar Tuesday to 1,259.50, but finished the year down 25.7 percent for the currency's second straight annual decline following a marginal drop of 0.7 percent last year. The decline in 2008 was the won's biggest since it fell 50.2 percent in 1997. The won, one of the world's worst performing currencies this year, at one point had declined 38 percent, but rallied toward the end of the year, gaining 16.6 percent in December. Tuesday was the final trading day of 2008 in South Korean financial markets, which reopen Friday. 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 US STOCKS SNAPSHOT-Wall St extends gains; Nasdaq, S&P rise 1 pctReuters - 20 minutes ago December consumer confidence drops to all-time lowAP - 21 minutes ago Pound's flirtation with euro parity hits touristsAP - 21 minutes ago Turkey Nov trade deficit falls 49 pct to $2.722 blnReuters - 28 minutes ago Turkish lira dips, bonds firm as inflation eyedReuters - 31 minutes ago Most Popular – Business Viewed Actress Jennifer Aniston appears naked in GQ magazine Two thousand and strange: offbeat stories of the year Natural disasters 'killed over 220,000' in 2008 Obama economic plan to cost between 675 and 775 bln: aides Japanese tourist spends 3 months in Mexico City airport View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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