* KOSPI extends losses late in session, down 2.8 pct
* Exporters decline after U.S. consumer confidence data
* Hyundai Merchant gains on N.Korea border news
(Updates to close)
By Jungyoun Park
SEOUL, Aug 17 (Reuters) - Seoul shares fell on Monday, with
losses led by exporters such as Hyundai Motor after negative data
from the key U.S. market, but Hyundai Merchant Marine rose on
hopes for the revival of its North Korea-related operations.
The Korea Composite Stock Price Index (KOSPI)
finished down 2.79 percent at 1,547.06 points.
"Falls in U.S. and regional stocks and reduced foreign
appetite for Seoul shares are weighing on markets...we're seeing
profit-taking moves prevail," said Lee Sun-yeop, a market analyst
at Goodmorning Shinhan Securities.
Foreign investors were buyers of 124.14 billion won ($99.24
million) worth of stocks while institutions sold a net 774.8
billion won worth.
Shares in Hyundai Merchant Marine Corp (011200.KS), the
parent firm of North Korea tour operator Hyundai Asan, gained
3.65 percent after news North Korea had agreed to reopen its
border with South Korea and allow tourism and family reunions to
start again. [ID:nLG023140]
But key exporters declined, weighed down by weak U.S.
consumer sentiment data. [ID:nN14304812]
Hyundai Motor (005380.KS), South Korea's top automaker, fell
3.55 percent and Samsung Electronics (005930.KS), the world's
No.1 memory chip maker, sank 2.46 percent.
Lotte Chilsung Beverage (005300.KS) shed 4.11 percent after
South Korea's antitrust agency imposed a 21.7 billion won ($17.51
million) fine on the beverage maker for alleged price-fixing of
its products.
"The fine is a big enough financial burden...and could weigh
on Lotte Chilsung's earnings," said Ji Ki-chang, an analyst at
Tong Yang Securities.
Shares in vaccine maker Green Cross (006280.KS) surged nearly
15 percent on Monday after news of the country's first H1N1
deaths. [ID:nSEO289242]
"The news should prompt the government to sign a supply deal
with Green Cross more expediently, and and may also hike the
price of influenza vaccine," said Bae Ki-dal, an analyst at
Goodmorning Shinhan Securities.
However shares in airlines and tour issues fell amid worries
the news could further dampen demand for overseas travel, with
Korean Air Line (003490.KS) sinking 5.05 percent and Hana Tour
(039130.KQ) declining 10.07 percent.
Elsewhere falls in crude prices CLc1 weighed on crude
refiners amid worries about demand, pushing SK Energy (096770.KS)
down 4.56 percent and GS Holdings (078930.KS), the holding
company of GS Caltex, the country's No.2 refiner, down 4.35
percent.
($1=1250.4 Won)
