* Apple supplier LG Display tumbles 4.8 pct
* Automakers fall after decline in European car sales
* Investors favour some defensives
By Joyce Lee
SEOUL, April 18 Seoul shares fell on Thursday to
a near five-month low, as LG Display led a broad
selloff of tech stocks on worries about slowing demand for Apple
Inc's products and a weak growth outlook for Intel
The Korea Composite Stock Price Index (KOSPI) slid
1.2 percent at 1,900.06 points, its lowest closing since Nov.
"Concerns over corporate earnings tested the 1,900-point
threshold, with investors led by foreigners offloading tech
shares such as LG Display as weak performance results are
expected from Apple," said Park Suk-hyun, an analyst at KTB
Foreign investors sold a net 232.6 billion won ($208
million) of KOSPI shares at closing, continuing a trend of
foreign selloffs that saw them offload a net 2.13 trillion won
between April 1 and 17.
Tech shares fell, led by a sharp 4.8 percent drop
in Apple supplier LG Display after a poor revenue forecast from
Cirrus Logic, another key Apple supplier, raised
worries on Wednesday of slowing demand for the iPhone maker's
Chipmakers also underperformed, after world's
largest semiconductor maker Intel Corp forecast a sharp
decline in its current-quarter revenue and trimmed its 2013
capital spending plans.
Index heavyweight Samsung Electronics slid 2.3
percent while SK Hynix dropped 3 percent.
Most large-caps were down, with automakers losing ground
after a 10.3 percent decline in March European car sales,
heading for a sixth straight annual decline to a two-decade
Hyundai Motor Co fell 2.1 percent while sibling
Kia Motors dropped 1.9 percent.
But Dongkuk Steel Mill bucked trends, rising 3.3
percent after the company said Exxon Mobil approved it
as a project vendor eligible to supply steel plates for Exxon
Mobil's offshore structures.
The KOSPI 200 benchmark of core stocks fell
1.5percent, while the junior KOSDAQ dropped 1.3 percent.
Move on day -1.2 percent
12-month high 2,031.10 2 January 2013
12-month low 1,769.31 25 July 2012
Change on yr -6.5 percent
All-time high 2,231.47 27 April 2011
All-time low 93.10 6 January 1981
($1 = 1118.4500 Korean won)
(Editing by Eric Meijer)