“Seoul shares fell 1.5 percent to its lowest in a month on Wednesday after soft U.S. manufacturing data added to worries over the global economy, while investors await a policy meeting by the European Central Bank on Thursday,” Christine Kim reports for Reuters.
“‘Another dark shadow has been cast on hopes for the U.S. economy, which had looked as if was improving with a recovery in the real estate market,’ said Kim Doo-un, an analyst at Hana Daetoo Securities in Seoul,” Kim reports. “Benchmark heavyweight Samsung Electronics, which has taken taken a beating since losing out to Apple Inc in their patent dispute, fell 1.3 percent after Apple said it would host an event on Sept. 12, at which it is widely expected unveil the iPhone 5.”
Kim reports, “The Korea Composite Stock Price Index (KOSPI) was down 1.5 percent at 1,879.01 points as of 0150 GMT on Wednesday.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]