* Foreigners net sell, weigh on main index
* Hyundai Mobis sags on profit taking, LG Elec down on
* Shipbuilders sink on 4Q earnings concerns
SEOUL, Feb 3 Seoul shares moved lower on Monday
morning after a two-day holiday closure last week, catching up
to news of the U.S. Federal Reserve's decision to further trim
its stimulus, while China's soft factory data added pressure.
The Korea Composite Stock Price Index (KOSPI) was
down 1.1 percent at 1,920.03 points as of 0200 GMT.
"Despite firm fundamentals, the market is still an emerging
market, unable to fend itself from the Fed's tapering
influence," said Oh Tae-dong, an analyst at LIG Investment &
Securities. "However, given time, the market will have its
chance to differentiate from other emerging markets, but only
under the premise of China's economic sturdiness."
The Fed on Wednesday announced an additional $10 billion cut
in its bond-purchasing stimulus, stoking volatility and capital
outflows from emerging markets.
Meanwhile, China's official Purchasing Managers' Index eased
to an expected six-month low in January, the National Bureau of
Statistics said on Saturday, heightening worries of an economic
slowdown in South Korea's largest export market.
Foreigners reflected the weakened risk sentiment by
net-selling 187 billion won ($175 million) worth of KOSPI shares
near mid-session, decliners outnumbering advancers 558 to 215.
Autoparts maker Hyundai Mobis Co Ltd fell 3.6
percent as investors locked in profits from a 6 percent weekly
gain from the previous week on better-than-expected fourth
LG Electronics Inc dipped 3.3 percent to the
lowest level in nearly 1-1/2 years on intensified competition in
the saturated high-end smartphone market after Chinese
technology company Lenovo Group said it would buy
Google Inc's Motorola Mobility handset unit on
Shipbuilders posted the biggest sector loss on earnings
worries, with its sub-index sinking 3.5 percent on
the back of Hyundai Mipo Dockyard Co Ltd which fell
Investors rotated into defensive plays, purchasing mobile
carrier KT Corp and Lotte Food Co Ltd which rose 1
percent and 1.4 percent, respectively.
The KOSPI 200 benchmark of core stocks was down 1.2
percent and the tech-heavy junior KOSDAQ edged 0.7