Reuters: Financial Services and Real Estate: Seoul shares hit 3-mth closing low; shipbuilders tumble

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Seoul shares hit 3-mth closing low; shipbuilders tumble May 7th 2012, 06:06 SEOUL | Mon May 7, 2012 2:06am EDT SEOUL May 7 (Reuters) - Seoul shares fell to a three-month closing low on Monday, battered by concerns of a reversal in Europe's austerity drive after elections in France and Greece and further weighed by data casting doubts over the pace of recovery in the U.S. economy. Shipbuilders underperformed, with Samsung Heavy Industries plunging 6.4 percent while Daewoo Shipbuilding & Marine Engineering slumped 4.8 percent. The Korea Composite Stock Price Index (KOSPI) fell 1.64 percent to close at 1,956.44 points.

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