Seoul shares slide

Seoul shares fell for a sixth consecutive session on Thursday to a three-week low, weighed by further evidence of a US economic slowdown and caution ahead of a central bank interest rate decision on Friday. The Korea Composite Stock Price Index finished down 0.57 percent at 2,071.42 points, its lowest close in two weeks. KOSPI 200 June futures shed 1.4 points to 273.00 points and the KOSPI 200 spot index declined 2.02 points to 272.44. The junior Kosdaq market ended up 0.92 percent at 473.47.
"Economic uncertainty continues to pressure the market and just ahead of the rate meeting on Friday, trade was relatively subdued," said Cho Yong-sik, an analyst at Shinhan Investment Corp. Twelve of 20 analysts surveyed expect the Bank of Korea to leave rates unchanged again at its June 10 policy review amid growing signs of a global economic slowdown.
Foreign investors were sellers of a net 661 billion Korean won ($609.8 million) worth of stocks, ending a three-session buying streak. Hyundai Motor, South Korea's top automaker, was among the biggest blue chip losers, shedding 2.16 percent, hit by media reports that it may jointly bid for a $2.9 billion stake in memory chipmaker Hynix Semiconductor with Hyundai Heavy Industries.