Seoul shares fell on Monday after recent gains as caution lingered about runaway oil prices and the corporate earnings outlook. The Korea Composite Stock Price Index (KOSPI) ended down 0.26 percent at 2,122.39 points. The KOSPI 200 June futures fell 0.45 points to 281.45 and the KOSPI 200 spot index dropped 0.56 points to 280.49. The junior Kosdaq market ended down 0.2 percent at 533.11.
Foreign investors were buyers of a net 88.7 billion won ($81.9 million) worth of stocks, picking up shares for a 19th consecutive session. "Investors are taking a wait-and-see attitude ahead of earnings announcements. The key is whether foreign investors continue to buy," Choi Chang-ho, an analyst at Shinhan Investment Corp, said. Airlines fell on worries oil price rises would increase jet fuel costs. Shares in Korean Air were down 2.62 percent, while Asiana Airlines slipped 2.55 percent.
Banks, securities firms and insurers retreated, with Korea Exchange Bank declining 3.25 percent and shares in Hyundai Marine & Fire sliding 4.69 percent. Shares in Samsung Heavy Industries firmed 3.75 percent after it said it won a $804 million order for four LNG ships. Samsung Electronics, South Korea's most valuable firm, dropped for a fourth straight session, down 0.45 percent after reporting weaker-than-expected profit estimates on Thursday. Trading volume was 312.5 million shares worth 7.3 trillion won.
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