Seoul shares slipped on Friday, pressured by concerns that slowing economic growth in China, South Korea's biggest export market, could take a toll on exports such as flat panels from LG Display. The Korea Composite Stock Price Index (KOSPI) ended down 0.73 percent at 1,738.45 points. Institutions were sellers of a net 261.5 billion won ($217.6 million) worth of shares.
Key exporters led losses, with LG Display, for which China is its third-biggest market, shedding 4.93 percent. LG Display was the fourth most heavily traded share in terms of turnover. The most heavily traded issue, Hynix Semiconductor, tumbled 6.56 percent on concerns about weak memory chip pricing and its second half outlook.
Shares in POSCO rose 0.92 percent after the world's No 3 steelmaker said on Friday it would spend 194.7 billion won ($162 million) to buy a 24.5 percent stake in the Australian Premium Iron Ore project. Foreign investors were buyers of 305.9 billion won worth of shares and retail investors picked up a net 59.1 billion won worth. Decliners outnumbered advancers 493 to 293 and 83 issues ended flat. Trading volume was 370.4 million shares worth 5.9 trillion won, compared with 384.2 million shares worth 5.3 trillion won. The KOSPI 200 September futures index ended down 2.60 points at 227.05, and the KOSPI 200 spot index fell 2.05 points to 226.34.
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