South Korean stocks fell on Monday, pressured by concerns over China's slowing economy and as strong US jobs data dented expectations of further policy easing by the Federal Reserve. "Investors are feeling a fair amount of discomfort above the 2,000 point threshold on lingering fundamental caution in relation to the US, China, and Europe, with falls being focused around sectors perceived to have overshot valuations," said Kim Hyung-ryu, an analyst at Kyobo Securities.
The Korea Composite Stock Price Index (KOSPI) fell 0.78 percent to close at 2,002.50 points. Samsung Heavy Industries, South Korea's third-largest shipbuilder, slid 3.73 percent while Hyundai Steel dipped 3.77 percent. Doosan Engine Co Ltd, an engine maker for large-marine vessels, plunged 8.83 percent after the company said one of its production lines had been temporarily shut down because of reduced orders from Chinese shipyards.
Offshore investors were seen dumping shares again after snapping a four-day selling streak on Friday, with selling at a net 153.3 billion won ($137.1 million). Some 369.7 million shares exchanged hands during the choppy trading session, which saw the lowest single-day turnover volume in more than two months. The KOSPI 200 index fell 0.71 percent while the junior, tech-heavy KOSDAQ index closed 0.64 percent lower.
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