SEOUL Jan 3 South Korean shares closed at their
lowest level in four months on Friday as fears of weaker
corporate earnings prompted foreign investors to offload market
heavyweights such as Samsung Electronics.
The Korea Composite Stock Price Index (KOSPI)
finished down 1.1 percent at 1,946.14 points, its lowest close
The KOSPI also underperformed regional markets in the
holiday-shortened week, falling 2.8 percent.
Foreign investors positioned as net sellers, offloading a
net 321.1 billion won ($305.72 million) worth of KOSPI shares to
drag down the main index.
Samsung Electronics Co Ltd shares fell 1 percent
in response to broker downgrades for its October-December
The stock fell more than 7 percent on the week, its worst
weekly performance since early-June 2013. Samsung Electronics is
to report preliminary Oct-Dec earnings on Jan.7.
($1 = 1050.3000 Korean won)
(Reporting by Jungmin Jang; Editing by Kim Coghill)