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Seoul shares drop 1 pct after U.S. earnings disappoint
Oct 22nd 2012, 06:28

* Builders underperformg * LG Elec falls after five days of gains SEOUL, Oct 22 (Reuters) - Seoul shares fell 1 percent on Monday, with investors locking in profits after results from General Electric and McDonald's added to a weak U.S. earnings season. The Korea Composite Stock Price Index (KOSPI) dropped 1.1 percent lower to 1,923.75 points as of 0158 GMT, but managed to pare losses after falling to around 1,910, its lowest point in a week. But the index is still around 10 percent higher than lows hit in late July. "Profit-taking is overshadowing buying because any forward momentum has been exhausted," Oh Tae-dong, an analyst at Taurus Securities, wrote in a note to investors, adding that...

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