SEOUL: Seoul shares extended losses to a near two-week low by midday on Friday on concerns South Korea’s exports to the largest export market may decline following lukewarm factory activity data from China.
The Korea Composite Stock Price Index (KOSPI) was down 1.1 per cent at 2,042.95 as of 0238 GMT after falling to as low as 2,040.30, the lowest since July 13. Losers led gainers by 3.1 to 1.
“Investors were focused on the data as local industries such as chemical, steel, shipbuilding and cosmetics have large exposure to China,” said Kang Hyun-gie, a stock analyst at Dongbu Securities.
Market heavyweight Samsung Electronics Co Ltd slipped 0.7 per cent to 1,225,000 won after touching a low of 1,224,000 won, the weakest in a week.
