* KOSPI falls 1.53 pct
* Renewed U.S. worries send exporters lower
* NCSoft outperforms after being added to MSCI index
(Updates to mid-morning)
By Jungyoun Park
SEOUL, May 14 (Reuters) - Seoul shares fell on Thursday after
overnight losses on Wall Street on gloomy data, sending key
exporters lower, but issues added to the MSCI Korea Standard
Index, including NCSoft (036570.KS), outperformed.
The Korea Composite Stock Price Index (KOSPI) was
down 1.53 percent to 1,392.69 points as of 0226 GMT.
"Despite yesterday's job data coming out relatively benign,
U.S. retail sales point to a continued slump in the world's
largest economy," said Y.S. Rhoo, a market analyst at Hyundai
Securities, adding that investors were growing concerned about
whether the South Korean economy could achieve a meaningful
turnaround without a pickup in the United States.
Sales at U.S. retailers fell for a second straight month in
April a cash-strapped consumers held back on purchases,
government data showed on Wednesday, denting hopes the economy
would soon emerge from recession. [ID:nN13384420]
South Korea said on Wednesday that job losses fell slightly
in April after record fiscal spending. [ID:nT239599]
Losses were led by key exporting issues on the back of
renewed worries about the United States, South Korea's
second-largest export market.
Hyundai Motor (005380.KS), South Korea's top automaker,
declined 2.3 percent and LG Display (034220.KS), the world's
second-biggest LCD maker, retreated 2.59 percent.
News that NCSoft, Celltrion (068270.KQ), and SK Broadband
(033630.KQ) were added to the MSCI Korea Standard Index .MSCIKR
helped the shares rally. The changes to the index will take
effect as of the close of May, 29, 2009.
The MSCI Korea Standard Index, provided by MSCI Inc, is
tracked closely by global investors.
NCSoft, an online game publisher, gained 2.53 percent, and
biotechnology company Celltrion rose 3.26 percent. SK Broadband,
a fixed-line firm controlled by the country's top mobile carrier
SK Telecom (017670.KS), jumped 7.5 percent.
But LG Hausys (108670.KS), which was removed from the index,
sank 4.02 percent.
POSCO (005490.KS) retreated 3.65 percent after the world's
No.4 steelmaker said on Thursday it would cut prices of its
benchmark steel product by 20 percent. [ID:nSEW000091]
"The price cut was expected given recent falls in raw
material and international steel prices. POSCO is underperforming
the benchmark today given its sensitivity to the economic cycles
and its substantial rises in recent weeks," said Kim Chung-wook,
an analyst at Hana Daetoo Securities.
Elsewhere, Oyang Fisheries (006090.KS) and Hansung
Enterprises (003680.KS) jumped after Oyang said late on Wednesday
in an exchange filing that it had acquired a 14.29 percent stake
in the processed food maker, fueling merger speculation.
Oyang was up 14.55 percent and Hangsung jumped 14.71 percent.
(Editing by Jonathan Hopfner)
