* Samsung Electronics down by more than 2 pct
* LG Display down on Apple, 1Q13 concerns
* Autos continue to slide but Hyundai Motor up
* Hyundai Elevator falls 5 pct after Thursday's 15 pct gain
By Somang Yang
SEOUL, Jan 4 Seoul shares slipped on Friday
morning as renewed concerns about the strength of the won
currency took a toll on exporters, which are the mainstays of
the South Korean economy.
The Korea Composite Stock Price Index (KOSPI) ticked
down 0.8 percent to 2,003.24 points as of 0253 GMT.
"Some of this is correction after the big gains from the
'fiscal cliff' resolution. However, losses are widened by
selling pressure on exporters as the yen weakens," said Kang
Hyun-ki, at IM Investment & Securities.
Japanese exporters, who compete fiercely with South Korean
companies in overseas markets, stand to benefit if the yen
weakens, particularly if the won strengthens simultaneously.
The Japanese yen has weakened by nearly 15 percent against
the Korean won in the last six months and is now
trading at its lowest since May 2010 according to Reuters data.
Heavyweight Samsung Electronics shed 2.1
percent, underperforming the index.
"Samsung's retreat is a correction to big recent gains ahead
of what is expected to be blockbuster fourth-quarter profits,"
said Choi Do-yeon, a tech analyst at LIG Investment &
Shares in the world's biggest smartphone maker have risen by
nearly 10 percent since the start of December to Thursday's
Meanwhile, shares in Apple supplier LG Display
fell 3.5 percent after local brokerage Kyobo
Securities expressed concern about its first quarter earnings,
citing Apple's weakening market share in tablets and
Auto-related shares shed 1 percent, extending
Thursday's 4.5 percent tumble on concerns that a strong won will
erode their overseas earnings.
Kia Motors was down by 1.8 percent, hitting a
However, Hyundai Motor was up by a modest 0.2
percent, after Thursday's 4.6 percent dive.
Among daily movers, Hyundai Elevator fell 5
percent. This follows a 14.8 percent jump in the previous
session as a battle between its two biggest shareholders heats
Overall, declining shares outnumbered winners 397 to 375.
The KOSPI 200 benchmark of core stocks was down 0.9
percent, while the junior KOSDAQ edged 0.9 percent
(Additional reporting by Seongwon Chang; Editing by Jacqueline