S.Korean shares extend losses, falling China stocks weigh

Mon Feb 24, 2014 1:09am EST

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SEOUL Feb 24 (Reuters) - South Korean shares extended losses on Monday afternoon as tumbling China stocks weighed on risk sentiment already dented by soft U.S. housing data, but losses were capped as some investors hunted for bargains.

The Korea Composite Stock Price Index (KOSPI) closed down 0.5 percent at 1,949.05 points.

China shares fell to their lowest in two weeks on Monday, also hurting Hong Kong markets, on reports saying banks have begun tightening property loans.

Institutions, who were buyers in early trade, turned sellers to offload a net 61.3 billion won ($57.18 million) worth. Foreigners sold a mere net 800 million won on Monday.

Services suffered the most, with internet content service provider Naver Corp finishing down 3 percent while game company NCSoft extended its fall, sliding 7.4 percent. ($1 = 1072.0000 Korean won) (Reporting by Christine Kim; Editing by Kim Coghill)

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