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Seoul shares fall to 1-wk low on Fed minutes, China data
February 20, 2014 / 6:16 AM / in 4 years

Seoul shares fall to 1-wk low on Fed minutes, China data

(For the midday report, please click )

SEOUL, Feb 20 (Reuters) - Seoul shares fell for a second session to a one-week low on Thursday, dragged down by minutes of the U.S. Federal Reserve’s January policy meeting that showed it remains on track to keep trimming its stimulus.

A preliminary private survey showing activity in China’s factories shrank again in February weighed further on Seoul shares, adding to worries over a sustained slowdown in Asia’s biggest economy.

The Korea Composite Stock Price Index (KOSPI) closed down 0.6 percent at 1,930.57 on Thursday, its lowest closing level since Feb. 13.

Foreign investors offloaded a net 185.5 billion won ($174 million) worth of shares in their third straight day of selling.

Naver Corp shares fell 8 percent on news Facebook Inc will acquire messaging application WhatsApp for $19 billion, seen to threaten Naver Corp’s chat service LINE. ($1 = 1065.5500 Korean won) (Reporting by Christine Kim; Editing by)

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