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Article: Korea: Seoul shares lose 2.4 pct on techs, shipbuilders.
- Article from:
- TendersInfo
- Article date:
- October 29, 2009
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Byline: sanjayV03
Seoul shares ended 2.41 percent lower on Wednesday after shedding nearly 3 percent, as key blue chips including Samsung Electronics lost ground and shipbuilders such as Hyundai Heavy tumbled.
Analyst said a batch of weak U.S. economic indicators, including consumer confidence data, stoked worries that economic recovery may flatten out in the fourth quarter.
'There are concerns that the rate at which economies are picking up may be slowing, and while the main index is not likely to undergo a big correction, expectations for upward momentum is lowered now,' said Won Jong-hyuck, a market analyst at SK Securities, adding that the ...