Around the World's Markets: Seoul

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SOUTH KOREAN shares slumped on concerns about a possible hike in interest rates. The Composite Stock Price Index closed 3.54 per cent or 31.85 points lower at 868.88.

The market tumbled through the psychologically important 900-point level amid reports the Bank of Korea was considering tightening monetary policy to fight inflation. News reports from Washington quoted the bank's governor as saying Korea might adopt a tightening bias.