Seoul shares extend fall on Citigroup downgrade

SEOUL, Dec 14 (Reuters) - Seoul shares extended declines to
trade 1.6 percent lower in afternoon trade, after ratings agency
Moody's Investors Service cut its debt rating on Citigroup,
deepening worries over subprime troubles and hitting financials.

The Korea Composite Stock Price Index fell 1.71
percent to 1,883.27 points as of 0430 GMT, with top lender
Kookmin Bank 060000.KS falling 4.14 percent to 67,200 won.

Moody's Investors Service on Thursday downgraded its ratings
on Citigroup Inc (C.N) debt, saying it doubted that the largest
U.S. bank would succeed in rebuilding its capital ratios any time
soon. [ID:nN13270308]

(Reporting by Kim Soyoung)