Friday, September 23, 2011

Seoul shares open down 3.6 pct hit by recession fears

SEOUL: Seoul shares opened sharply lower on Friday as concerns about global economic stagnation deepened on debt problems in Europe and an increasingly grim U.S. and Chinese economic outlook.

Falls were led by crude oil refiners and shipbuilders, with SK Innovation , the country's top refiner, down 6.3 percent and Hyundai Heavy Industries , the world's top shipyard, tumbling 7.1 percent.

The Korea Composite Stock Price Index was down 3.43 percent at 1,738.86 points as of 0003 GMT. ' Reuters

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