InfoAnda - Seoul shares slip; LG Elec down, automakers rise

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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 slip; LG Elec down, automakers rise Reuters - Monday, March 15 Send IM Story Print * KOSPI sheds opening gains * LG Electronics down on TV, smartphone concerns By Jungyoun Park SEOUL, March 15 - Seoul shares turned lower on Monday as losses in technology issues including LG Electronics <066570.KS> pressured stocks, but automakers including Hyundai Motor <005380.KS> were boosted by a weaker won <KRW=>. The Korea Composite Stock Price Index <.KS11> was down 0.25 percent at 1,658.57 points as of 0141 GMT. Lee Jae-mahn, a market analyst at Tong Yang Securities, said sentiment had been dented by Chinese Premier Wen Jiabao's comments on the yuan, with regional currencies and stock markets driven higher recently by expectations the currency would appreciate. Chinese Premier Wen Jiabao on Sunday spurned foreign calls for the yuan to rise. [ID:nTOE62D001] "Positive catalysts are lacking from the United States as well, with shares ending pretty much flat on Friday," Lee added. LG Electronics <066570.KS> underperformed after news a U.S. jury found that the electronics giant infringed on a Whirlpool <WHR.N> patent for ice storage bins in some of its refrigerators. Whirlpool won $1.78 million in monetary damages from LG Electronics. [ID:nN12127529] "I do not think the news by itself is negatively impacting shares. Whirlpool won a mere $1.8 million in the case, and one could say LG Electronics won the case in real terms," said Chun Seong-hoon, an analyst at Eugene Investment & Securities. "The real concerns with LG Electronics are recent falls in television prices and its lagging performance in the smartphone business. Average selling prices of its smart phones are expected to fall 25 to 35 percent in the near term," Chun added. Shares in LG Display <034220.KS> fell 0.83 percent after the world's No.2 maker of liquid crystal display screens said late on Friday it would invest 1.49 trillion won to boost production capacity with a new production line. [ID:nTOE62B01W] But a dip in the won boosted auto exporters, with shares in Hyundai Motor up 0.46 percent and Kia Motors <000270.KS> advancing 2.13 percent. Recommend Send IM Story Print Related Articles Turkey - Factors to Watch on March 15 Reuters - 1 hour 2 minutes ago Arrow to reject Shell, PetroChina $3 bln bid - paper Reuters - 1 hour 11 minutes ago Kiri Dyes pays 50 mln euros for DyStar buy Reuters - 1 hour 13 minutes ago Taiwan eyes 30 percent stake in China banks: report AFP - 1 hour 13 minutes ago AU seeks Taiwan approval of new China LCD plant Reuters - 1 hour 14 minutes ago News Search Top Stories France's Lagarde hits German trade surplus: report Scientists crack opium poppy's genetic code Satisfied with oil prices, OPEC to sit tight on output Luxurious black granite draws envy of poor Zimbabweans Warner and KKR consider EMI break-up bid: report More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Stock market dips 'linked to heart attack surge' Scientists crack opium poppy's genetic code Luxurious black granite draws envy of poor Zimbabweans Prince Philip in strip club gaffe British fertility clinic raffling human egg More Most Viewed » Chile quake moved Earth's axis, shortened days: scientist Experts confirm asteroid wiped out the dinosaurs Florida killer whale to stay in park after deadly attack 'Britain's Fritzl' raped daughters for over 25yrs Researchers back cancer-fighting properties of papaya More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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