April 5, 2013 / 1:15 AM / 5 years ago

Seoul shares hit 2-month low on N.Korea risk, yen's slide

SEOUL, April 5 (Reuters) - South Korean shares extended losses to a two-month low on Friday morning, hit by foreign selling, with investors wary about prolonged tensions on the Korean peninsula and further weakness in the Japanese yen.

Auto shares led the market’s falls, as Hyundai Motor and Kia Motors plan a massive U.S. recall. The stocks were also hit by the yen’s continued decline after the Bank of Japan unveiled powerful stimulus the previous day, raising concerns of competitive pressure for Korean exporters.

The Korea Composite Stock Price Index (KOSPI) was down 1.2 percent at 1,935.69 points at 0100 GMT, its lowest intraday level since Feb. 8. (Reporting by Hyunjoo Jin and Joyce Lee; Editing by Shri Navaratnam)

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