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Seoul shares extend losses, down 2.5 pct

Sun Aug 3, 2008 10:30pm EDT

Stocks

   

SEOUL, Aug 4 (Reuters) - Seoul shares extended losses to fall 2.5 percent on Monday morning, with a rise in oil prices and worries about the U.S. economy dampening market sentiment and shipbuilders plunging on news of cancelled orders.

The Korea Composite Stock Price Index was down 2.44 percent at 1,535.41 points as of 0226 GMT.

Shipbuilders such as Daewoo Shipbuilding and Marine Engineering (042660.KS) and Hyundai Mipo Dockyard (010620.KS) led the losses, with Daewoo Shipbuilding down 12.76 percent to 35,900 won and Hyundai Mipo down 7.34 percent to 183,000 won.

(Reporting by Park Jung-youn; editing by Jonathan Hopfner)



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