Monday, November 21, 2011

Seoul shares open lower but Hana Fin rallies

SEOUL (Nov 21): Seoul shares opened lower on Monday weighed by TECHNOLOGY [] stocks and refiners, with investors cautious as European leaders grapple with the region's debt crisis and a U.S. bipartisan committee inches closer to a deficit reduction deadline.

Shares in Hana Financial Group shot up 4.4 percent after South Korea's financial watchdog on Friday ordered U.S. buyout fund Lone Start to sell down its controlling stake in Korea Exchange Bank (KEB), with Hana seen as the sole likely buyer.

KEB lost 1.1 percent.

The Korea Composite Stock Price Index (KOSPI) was down 0.86 percent at 1,823.28 points as of 0007 GMT. ' Reuters


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