* KOSPI on track for 4th consecutive losing session
* Foreigners sell local stocks to drag on main index
* Heavyweights Samsung Electronics, Hyundai Motor fall
SEOUL, Dec 4 Seoul shares fell to their lowest
point in nearly two weeks on Wednesday morning, tracking weaker
global equities as investors were unnerved by signs the U.S.
Federal Reserve could be close to reducing its stimulus.
The Korea Composite Stock Price Index (KOSPI) was
down 0.9 percent at 1,990.85 points by 0200 GMT after touching
an intraday low of 1,989.06, its lowest since Nov. 22.
The KOPSI was on track for a fourth straight losing session
and was trading below the psychologically important 2,000 level
for the first time since Nov. 26.
"Like other global stock markets, the South Korean market
lacks a catalyst to outweigh the Fed stimulus cutback worries
amid a weak yen pressuring exporters," said Kim Yong-goo, an
analyst at Samsung Securities.
Wall Street fell for a third day and European stock markets
suffered their biggest falls since August on Tuesday, stepping
back from record levels on profit-taking ahead of the U.S.
November jobs report due this week.
The U.S. payrolls data is expected to provide further clues
as to when the Fed will begin dialling back its stimulus.
Foreign investors sold a net 129.3 billion won ($122
million) worth of local shares near midsession, weighing on the
Kia Motors Corp rose 1.8 percent, attracting
bargain hunting after tumbling 5.2 percent on Tuesday in its
biggest daily percentage drop since Nov. 5, 2012.
But affiliate Hyundai Motor Co continued to
struggle, falling 1.1 percent. It has come under pressure amid a
weak yen that bolsters the price competitiveness of its
Japanese rivals in overseas markets.
Samsung Electronics Co Ltd, the largest company
in the KOSPI by market capitalisation, fell 1.3 percent,
extending its skid so far this month. In November, it had logged
its best monthly performance since December 2012.
Mobile carrier LG Uplus dropped 3.8 percent
after U.S. Senate committees expressed concerns over reports
that China's Huawei Technologies Co Ltd has been chosen
to build a nationwide wireless network in South Korea.
Declining shares outnumbered winners 572 to 196.
The KOSPI 200 benchmark of core stocks was down 1
percent, while the junior KOSDAQ slipped 0.6 percent.
($1 = 1061.2000 Korean won)
(Reporting by Jungmin Jang; Editing by Chris Gallagher)