SEOUL, June 23 (Reuters) - Seoul shares hit their lowest
level in 12 weeks on Monday with financials and memory chip
makers struggling on renewed worries about the credit crunch and
corporate earnings after a drop in Wall Street shares on Friday.
The Korea Composite Stock Price Index was down 2 percent to
1,697.11 points as of 0110 GMT, its first time below 1,700 points
since April 1.
It is still up around 10.3 percent from the mid-March low of
1,537.53, but down 10.8 percent from the year's high of 1,901
reached mid-May.
"There is no way knowing how far the index will drop at times
like this," said Kim Joong-hyun, a market analyst at Goodmorning
Shinhan Securities.
