Seoul shares edged lower on Wednesday after the market posted a record high the previous session, led by falls in technology plays and banks, including Samsung Electronics Co Ltd. The Korea Composite Stock Price Index ended down 0.17 percent at 2,126.71 points. The KOSPI 200 June futures fell 0.4 points to 283.40 and the KOSPI 200 spot index shed 0.68 points to 281.35. The junior Kosdaq market ended down 0.68 percent at 533.98.
Foreign investors were buyers of a net 513.3 billion Korean won ($472 mln) worth of stocks, picking up shares for a 16th consecutive session. Listed South Korean firms were seen enjoying comparative advantage due to the shutdown of Japanese peers, particularly in chemicals, refinery, and auto parts-making industries.
Shares in Samsung Electronics fell 2.3 percent ahead of a scheduled announcement of first quarter earnings estimates on Thursday, as the world's No 1 memory chip maker is seen reporting a third consecutive quarterly drop in earnings. "Investors were growing more wary before its scheduled earnings estimate announcement," said Chung Seung-jae, a market analyst at Mirae Asset Securities. Hyundai Hysco Co Ltd , a steelmaking affiliate of Hyundai Motor Group, jumped 8 percent on a positive earnings outlook.
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