Alexa

South Korean shares fall on declines in technology stocks

South Korean shares fall on declines in technology stocks

South Korean shares fell Friday led by losses in heavyweight technology shares. The won fell to its lowest level in more than two months.
The Korea Composite Stock Price Index, or Kospi, fell 11.03 points, or 0.8 percent, to 1,371.33. For the week, the Kospi rose 0.8 percent.
Samsung Electronics Co., South Korea's largest corporation, declined 2.7 percent to 587,000 and Hynix Semiconductor Inc. fell 1.8 percent to 32,950 won on falling memory chip prices and worries over strength in the won.
LG. Philips LCD Co. also declined, falling 3.6 percent to 27,800 won.
In currency trading, foreign investors snatched up U.S. dollars, sending the South Korean currency to its weakest level in more than two months.
The dollar rose to 940.50 won, sharply higher from Thursday's 936 won.
Friday's finish was the dollar's highest close since finishing at 941.50 won on Nov. 15, 2006.