SEOUL: The South Korean won was held steady in local trade early on Monday, as several markets remained closed for the Easter holiday and as most investors kept to the sidelines on the lookout for month-end settlements from local exporters.
Domestic shares sagged slightly as institutions took profit while foreigners lent support with their continued net buying.
The Korea Composite Stock Price Index (KOSPI) was down 0.3 percent at 1,998.54 points as of 0236 GMT. The won was nearly unchanged, trading at 1,037.5 against 1,037.4 at Friday's close.
Market participants said they expected the won to trade between 1,035 to 1,039 per dollar on Monday, as fears of possible government intervention kept traders wary towards the early 1,030 level.
"We're seeing no specific direction at this point in trade, which is quiet overall," said a foreign-exchange dealer in Seoul, who added that offshore investors' stock purchases were slightly propping up the won.
Foreign investors were poised to be net buyers for a fifth straight session, snapping up 33.7 billion won ($32.44 million)
worth of KOSPI shares near mid-session. Institutions sold a net 48.7 billion won worth of shares.
Most of the KOSPI's top 100 stocks fell early in the session, with LG Innotek Co Ltd and Nexen Tire Corp slipping more than 3 percent.
Outperforming the bourse was Lotte Chilsung Beverage Co Ltd and KT&G Corp, both up around 3 percent.
Out of the entire bourse, decliners outnumbered advancers 455 to 305.
The KOSPI 200 benchmark of core stocks was down 0.3 percent, while the junior KOSDAQ edged 0.05 percent lower.
June futures on three-year treasury bonds ticked down 0.02 points to trade at 105.71.
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