Seoul shares slump

Seoul shares fell for a fourth straight session on Monday to an 11-month closing low as investors fretted over China's economy and global financial market instability. The Korea Composite Stock Price Index (KOSPI) finished down 1.3 percent at 1,799.01 points, ending at its lowest level since late July last year. The KOSPI is only 2.3 percent above the low of 1,758.99 points hit on July 25, 2012, before a bounce fuelled by expectations of economic stimulus measures by the Fed, which were implemented later in the year.
Foreign investors were sellers of a net 220.8 billion Korean won ($191.63 million) worth of stocks, offloading shares for a 12th consecutive session, their longest selling streak in three months. The market's key technology heavyweights led the fall move, with LG Display Co Ltd shedding 4.3 percent and SK Hynix Inc down 3.4 percent. The KOSPI 200 benchmark of core stocks fell 1.3 percent, while the junior KOSDAQ declined 2.4 percent lower.