S.Korea shares drop to 1-week closing low on chemical, steel sectors
SEOUL Aug 20 (Reuters) - Seoul shares retreated from early gains on Tuesday to end at their lowest closing level in more than a week, tracking regional markets as chemical and steel sectors dragged down the main index.
The Korea Composite Stock Price Index (KOSPI) fell 1.6 percent to 1,887.85 points, the lowest closing level since Aug. 12.
Chemical shares Lotte Chemical Corp and LG Chem Ltd dropped 4.5 percent and 3.7 percent, respectively on concerns about weaker earnings due to slowing economic growth in India and Indonesia, the firms' key export markets.
Steelmakers POSCO and Hyundai Steel Co dropped 1.7 percent and 4.8 percent respectively, giving previous gains in recent sessions.
Foreign investors were net buyers of 289.0 billion won($259.07 million) worth of local shares on Tuesday, setting a five session streak.
($1 = 1,115.55 Korean won) (Reporting by Jungmin Jang; Editing by x)