S. Korean shares fall on China's manufacturing data
SEOUL, April 23 (Xinhua) -- South Korea n shares fell for the first time in three sessions on Tuesday as foreigners continued to offload stocks following the announcement of downbeat manufacturing activities in China.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 7. 68 points, or 0.4 percent, to close at 1,918.63. Trading volume stood at 254.52 million shares worth 3.46 trillion won (3.09 billion U.S. dollars).
According to HSBC Holdings and Markit Economics, the Purchasing Managers' Index, a gauge of manufacturing activity in China, fell to 50.5 in April from 51.6 in March, boosting concerns over the growth in the world's No. 2 economy.
The figure added concerns over the global economic recovery as the data came after China's GDP growth slowed to 7.7 percent in the first quarter.
Amid thin trading, foreign investors kept their selling spree for eight straight sessions by offloading stocks worth 118.7 billion won. The trading volume was the lowest in eight months.
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