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South Korean stocks end lower, paring deeper losses

South Korean stocks end lower, paring deeper losses

South Korean shares fell slightly Wednesday, with shipbuilders' gains paring sharp losses in early trading.
The Korea Composite Stock Price Index fell just 3.12 points, or 0.2 percent, to close at 1,826.19. The Kospi recovered most of its losses after plunging as much as 3.2 percent near the open on a decline in U.S. stocks amid still simmering concerns over global credit market turmoil.
In New York on Tuesday, the Dow Jones industrial average fell 280.28, or 2.10 percent, to 13,041.85, its biggest drop since Aug. 9. Broader stock indicators, including the Standard & Poor's 500 index, also fell.
U.S. stocks dropped as investors grew more uneasy about the U.S. economy and whether the U.S. Federal Reserve will take the steps needed to prevent a further spread of credit market problems.
In South Korea, shipbuilders led gainers. Hyundai Heavy Industries Co., the world's largest, rose 2 percent to 382,000 won. Daewoo Shipbuilding & Marine Engineering Co. gained 4.9 percent to 58,200 won.
Samsung Electronics Co., South Korea's biggest corporation, fell 2.4 percent to 562,000 won.


Updated : 2020-12-01 10:10 GMT+08:00