Seoul shares end down 2.07 pct on earnings woes

SEOUL, Jan. 20 (Yonhap) -- South Korean shares closed 2.07 percent lower Tuesday
as investor sentiment was dented by gloomy corporate earnings outlooks and a
slowing economy, analysts said. The local currency fell against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 23.83 points to
1,126.82. Volume was moderate at 314.95 million shares worth 3.73 trillion won
(US$2.72 billion), with losers outpacing winners 608 to 214.
"Investors are jittery as concerns linger over falls in large-cap stocks," said
Sung Jin-kyung, an analyst at Daeshin Securities Co. "Fourth-quarter earnings of
several large-cap companies are widely expected to fall short of market
expectations due to a global economic slump."
Market leader Samsung Electronics and LG Electronics are slated to release their
fourth-quarter earnings reports later this week.
Major tech exporters lost ground. Industry heavyweight Samsung Electronics fell
2.32 percent to 464,000 won and its local rival LG Electronics lost 3.96 percent
to 77,700 won. Panel maker LG Display also dived 3.08 percent to 25,200 won.
Automakers finished weaker with top carmaker Hyundai Motor falling 2.50 percent
to 42,950 won and its affiliate Kia Motors dropping 1.26 percent to 7,030 won.
The local currency ended at 1,374.5 won to the dollar, down 12 won from Monday's
close.
ygkim@yna.co.kr
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