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Seoul shares hit two-week low; builders slide
September 26, 2012 / 6:11 AM / 5 years ago

Seoul shares hit two-week low; builders slide

SEOUL, Sept 26 (Reuters) - Seoul shares fell to their lowest levels in nearly two weeks on Wednesday, with some market participants saying that the correction could continue for the rest of the week as worries about the health of the global economy preoccupy investors.

Builders led the market’s decline after media reports said Kukdong Engineering & Construction may go bankrupt due to liquidity problems, adding to concerns about the struggling construction sector. The company was not available for comment when contacted by Reuters.

The Korea Composite Stock Price Index (KOSPI) ended down 0.55 percent to 1,980.44 points, its lowest closing level since Sept. 13.

Reporting by Hyunjoo Jin; Editing by Jacqueline Wong

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