South Korea's Kospi Index Drops on U.S. Subprime Concern; Hynix Declines

(Bloomberg) -- South Korean stocks dropped for a
second day after the near collapse of a Bear Stearns Cos. hedge
fund fueled concern the impact from faltering U.S. subprime
loans will be worse than expected. Hynix Semiconductor Inc. fell.

The Kospi index slid 3.27, or 0.2 percent, to 1767.71 as of
9:30 a.m. in Seoul. The Kosdaq declined 0.3 percent to 807.00.
Kospi 200 futures expiring in September retreated 0.1 percent to
225.75, while the underlying index slipped 0.2 percent to 224.62.


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