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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Seoul shares trim losses; financials weigh Reuters - 1 hour 1 minute ago Send IM Story Print * KOSPI trims losses helped by institutional buying * Nuclear power issues rise on news of Polish MOU By Jungyoun Park SEOUL, Aug 16 - Seoul shares trimmed earlier near-2 percent losses to close down 0.2 percent on Monday, helped by gains in nuclear power issues such as KEPCO E&C <052690.KS>, but falls in banking stocks such as KB Financial <105560.KS> weighed. The Korea Composite Stock Price Index <.KS11> ended down 0.17 percent at 1,743.31 points. "The market managed to slash earlier losses as substantial selling from programme accounts stabilised. But caution on the economic outlook, ahead of key U.S. data, continued to keep investors on edge," said Kim Hyoung-ryoul, a market analyst at NH Investment & Securities. Foreign investors were sellers of a net 350.4 billion won worth of stocks, offloading shares for a fourth straight session. But institutions purchased a net 108.6 billion won. Financials led falls as brokerages and banking stocks retreated. Brokerages fell after some reported weak quarterly results late on Friday. Daewoo Securities Co Ltd <006800.KS> lost 1 percent after it reported a net profit of 60.6 billion won in the April-June quarter, down 50 percent from a year earlier. KB Financial Group Inc <105560.KS>, parent of top commercial lender Kookmin Bank, fell 1.5 percent. Shinhan Financial Group Co Ltd <055550.KS> declined 2.2 percent. But nuclear power related stocks rose on news South Korea signed an MOU with the Polish government on cooperation over nuclear power technology. "The MOU was forged in areas including construction of nuclear power facilities, waste management, and technological training," a Ministry of Knowledge Economy official told Reuters. "The MOU with Poland establishes a basic footing on which South Korea may attain nuclear power related businesses from Poland," said Kim Seung-cheol, an analyst at Meritz Securities. Shares in KEPCO Engineering & Construction, a nuclear power plant designer, rose 1.9 percent. KR Plant Service & Engineering <051600.KS>, which specialises in operating nuclear power facilities, rose 2.2 percent. Key technology exporters turned up, with LG Electronics, the world's No.3 handset maker, gaining 0.5 percent and Samsung Electronics <005930.KS>, the world's No.1 memory chip maker, gaining 0.1 percent. Elsewhere, Doosan Heavy Industries & Constriction Co Ltd <034020.KS> advanced 1.4 percent after local media reported the company was re-selected by Saudi Electricity Co as the lowest bidder for an estimated $3.5 billion power plant project in Rabigh, Saudi Arabia, after being suddenly removed from the running earlier this month. A Doosan Heavy official who declined to be named confirmed the news and said the company was optimistic about winning the project, although nothing had been officially decided. Defensive issues outperformed as investors sought safer bets amid the market's decline. Orion Corp <001800.KS>, one of the major South Korean snack makers, rose 3.9 percent. Lotte Shopping <023530.KS>, the country's top retailer that operates discount store chains and department stores, rose 1.5 percent. 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