Kospi down 1.0%; Support Soon 1900

Kospi down 1.0%; Support Soon 1900

Kospi fell 1.1% at 1907.73 in afternoon trade, take a breather after a recent recovery, with domestic institutions sell local shares worth KRW190 billion, while foreigners sold a net worth of KRW13 billion, analysts said.

Tips direct support to the mark in 1900, about the level of 1870. The fall of the current stock price does not imply serious damage to investor sentiment, said Tong Yang Securities analyst Lee Jae-mahn.

Participants just want to hint again about how Europe will carry out his plan to resolve debt problems on the continent, he added.

Several heavyweight stocks led the decline following the chemical recent sharp rise, with SK Innovation lost 3.9% to KRW170, 500 and LG Chem down 3.3% to KRW367, 500.

To rise, chipmakers heavyweight shines on hopes for increased profit in the fourth quarter; Samsung Electronics rose 2.2% to KRW966, 000, while Hynix was up 0.4% at KRW23, 000