* Trading choppy ahead of Q3 results, euro zone meeting
* Shipbuilders fall on weak global outlook
* KOGAS shares edge up on Iraq pipeline contract
SEOUL, Oct 8 (Reuters) - Seoul shares fell slightly onMonday morning as investors braced for a slowing world economyand kept a wary eye on the upcoming earnings season.
The Korea Composite Stock Price Index (KOSPI) ticked0.69 percent lower at 1,981.40 points by 0252 GMT, in line withother Asian markets. The MSCI index of Asia-Pacific sharesexcluding Japan was down 0.73 percent.
"The downward revision of Q3 results for several companiesand the ongoing question of a Spanish bailout continues to weighon the KOSPI, despite encouraging U.S. job figures," said EomTae-woong, an analyst at Bookook Securities.
Despite a better-than-expected U.S. jobs report, Wall Streetstocks closed lower on concerns about the earnings season, whichkicks off on Tuesday. S&P 500 futures traded in Asia weredown a touch on Monday.
Euro zone finance ministers will be formerly launching theregion's 500-billion-euro bailout fund on Monday to bolsterdefences against the sovereign debt crisis now threateningSpain.
Meanwhile, the World Bank cut its economic forecast for EastAsia, in part due to the slowdown in China.
Shipbuilders were down across the board, with Hyundai HeavyIndustries trading 3.2 percent lower, and SamsungHeavy Industries down 2.5 percent.
"Shipbuilding is an industry that is particularly sensitiveto bad macroeconomic news, and what you see in their stock priceis a reflection of the bad economic data," said Lee Jae-won, ananalyst at Tongyang Securities.
Shares in the state-run utility Korea Gas Corporation(KOGAS) were up 3.3 percent following its winningbid to construct a $127 million pipeline in Iraq.
Retail investors purchased a net 150 billion Korean won($134.97 million) worth of KOSPI shares near the mid-session,offsetting selling by local institutions and foreigners.
Declining shares outnumbered winners 512 to 287.
The KOSPI 200 benchmark of core stocks was down 0.8percent, while the junior KOSDAQ edged 0.4 percenthigher.($1 = 1111.3500 Korean won)
(Reporting By Somang Yang and Seongwon Chang; Editing byJacqueline Wong)
((somang.yang@thomsonreuters.com)(+82 2 3704 5643)(ReutersMessaging: somang.yang.thomsonreuters.com@reuters.net))
Keywords: MARKETS KOREA STOCKS/