Seoul stocks end 0.77 pct lower on bank, builder losses

(ATTN: ADDS details in penultimate para, bond yields at bottom)
SEOUL, Nov. 26 (Yonhap) -- South Korean stocks finished 0.77 percent lower on
Thursday, dragged down by builder and bank losses, analysts said. The local
currency declined against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 12.36 points to end
at 1,599.52, falling below the 1,600-point-level for the first time in seven
sessions. Volume was light at 276.3 million shares worth 4 trillion won (US$3.5
billion), with losers leading gainers 463 to 311.
After gaining up to 9 points in late morning, the key index slipped into negative
terrain as builders and banks extended their losses.
"Investors took profits from banks and builders after concerns rose that China
may lift capital adequacy ratios or reserve requirements, ending its
credit-easing policies," said Lim Dong-min, an analyst at KB Investment &
Securities.
Leading builder Samsung C&T Corp. plunged 6.52 percent to 47,300 won after a UAE
investor Dubai World was reported to be seeking a delay in its debt repayment.
The local builder has a construction order from the Dubai-based company.
Top constructor Hyundai Engineering & Construction Co. also slumped 5.65 percent
to 68,500 won with Daewoo Engineering & Construction Co. also falling 2.69
percent to settle at 12,650 won.
Second-largest financial service firm Woori Finance Holdings slid 4.44 percent to
15,050 won and No. 3 player Shinhan Financial Group also tumbled 4.07 percent to
47,100 won.
Hynix Semiconductor, the world's second-largest memory-chip maker, rose 1.05
percent to 19,200 won after its main creditor said on Wednesday it would revive
the sale of the company after Hyosung Corp. had dropped its offer.
Leading department store operator Lotte Shopping Co. surged 5.45 percent to
19,500 won on hopes affluent shoppers will soon resume spending.
The local currency ended at 1,155.3 won to the U.S. dollar, down 2 won from
Wednesday's close as importers' demand for the greenback increased, dealers said.

Bond prices, which move inversely to yields, closed higher. The return on
three-year Treasuries shed 0.05 percentage point to 4.20 percent and the
benchmark yield on five-year government bonds dropped 0.05 percentage point to
4.71 percent.
pbr@yna.co.kr
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