SEOUL: South Korean shares edged lower on Friday morning after trading narrowly, with investors cautious amid fresh worries over slowing global growth and volatility in world equity markets.
The Korea Composite Stock Price Index (KOSPI) was down 0.4 percent at 1,911.06 points as of 0310 GMT.
The main index has tumbled more than 5 percent this month on worsening jitters over the state of the global economy, although a set of upbeat U.S data helped to soothe some of the nerves.
The number of Americans filing new claims for jobless benefits fell to a 14-year low last week and industrial output rose sharply in September, positive signals that helped ease fears over the economic outlook.
"The market is oversold and should turn things around as we roll into November, with global growth led by the US also looking to bounce back next year from the current trough," said Samsung Securities in a note to clients.
"The corrections we are seeing in the market right now is a natural rite of passage in consolidating momentum for future gains," the note said.
Shares in LG Display, a major supplier of Apple Inc, tumbled 4.8 percent on concerns over the screen maker's fourth quarter earnings, after the Silicon Valley giant earned underwhelming reviews on its newest iPads.
Key exporters fell, as Samsung Electronics shed 1.4 percent while Hyundai Motor slid 1.5 percent. Samsung Electronics and Hyundai are the two biggest listings on the KOSPI, with a combined market capitalisation of more than 15 percent.
Korea Electric Power Corp (KEPCO) shares fell 2 percent after saying it had shut one of its nuclear power plants due to issues in its steam generating facility.
The South Korean won drifted lower on Monday as positive U.S data supported a modest recovery in the dollar, while foreign selling of domestic equities also weighed.
Offshore players were net sellers on the main exchange for the 11th straight session, having dumped more than a net 2 trillion won ($1.88 billion) worth of KOSPI shares during the period.
The local currency was quoted at 1,062.6 to the dollar as of 0310 GMT, compared with Thursday's session close of 1,061.5.
December futures on three-year treasury bonds shed 5 basis points to trade at 107.71
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