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Seoul shares extend losses, down 2 pct

Thu Aug 21, 2008 10:07pm EDT

SEOUL, Aug 22 (Reuters) - Seoul shares extended their losses to fall more than 2 percent to a 16-month low on Friday, led by tech issues on outlook worries.

Casualty insurers also tumbled on market competition concerns on talk a major insurer will offer online-based auto insurance.

The Korea Composite Stock Price Index was down 2.17 percent at 1,479.71 points as of 0201 GMT, its lowest since 1,477.69 points on April 6, 2007.

(Reporting by Park Jung-youn; editing by Keiron Henderson)



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